{
  "cells": [
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "14Vw8LGZqgj_"
      },
      "source": [
        "[![Open In Colab](https://colab.research.google.com/assets/colab-badge.svg)](https://colab.research.google.com/github/pinecone-io/examples/blob/master/learn/search/semantic-search/cohere-rerank/compaq-reranking.ipynb)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "rETwFR54nG7h"
      },
      "source": [
        "# Pinecone & Cohere Rerank\n",
        "This notebook downloads and processes Compaq's 10-K SEC filings, using Pinecone vector search and Cohere Rerank 3.5 to extract targeted insights from the documents. The two-stage retrieval combines efficient vector search with semantic reranking for improved results."
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 1,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/"
        },
        "id": "DOzEVfPY6IOS",
        "outputId": "4a1c2f44-e4d3-421a-8822-7309b9663b98"
      },
      "outputs": [
        {
          "name": "stdout",
          "output_type": "stream",
          "text": [
            "\u001b[?25l   \u001b[90m━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━\u001b[0m \u001b[32m0.0/427.3 kB\u001b[0m \u001b[31m?\u001b[0m eta \u001b[36m-:--:--\u001b[0m\r\u001b[2K   \u001b[90m━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━\u001b[0m \u001b[32m427.3/427.3 kB\u001b[0m \u001b[31m13.1 MB/s\u001b[0m eta \u001b[36m0:00:00\u001b[0m\n",
            "\u001b[?25h\u001b[?25l   \u001b[90m━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━\u001b[0m \u001b[32m0.0/267.4 kB\u001b[0m \u001b[31m?\u001b[0m eta \u001b[36m-:--:--\u001b[0m\r\u001b[2K   \u001b[90m━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━\u001b[0m \u001b[32m267.4/267.4 kB\u001b[0m \u001b[31m17.9 MB/s\u001b[0m eta \u001b[36m0:00:00\u001b[0m\n",
            "\u001b[2K   \u001b[90m━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━\u001b[0m \u001b[32m87.5/87.5 kB\u001b[0m \u001b[31m6.2 MB/s\u001b[0m eta \u001b[36m0:00:00\u001b[0m\n",
            "\u001b[2K   \u001b[90m━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━\u001b[0m \u001b[32m1.6/1.6 MB\u001b[0m \u001b[31m50.5 MB/s\u001b[0m eta \u001b[36m0:00:00\u001b[0m\n",
            "\u001b[?25h"
          ]
        }
      ],
      "source": [
        "%pip install --quiet --upgrade \\\n",
        "    pinecone-notebooks \\\n",
        "    python-dotenv \\\n",
        "    pinecone \\\n",
        "    pinecone-plugin-records \\\n",
        "    \"rich[jupyter]\""
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 2,
      "metadata": {
        "id": "Z9sxLdtqpY2C"
      },
      "outputs": [],
      "source": [
        "# Standard library imports\n",
        "import os\n",
        "import re\n",
        "import time\n",
        "import getpass\n",
        "import difflib\n",
        "from html import unescape\n",
        "\n",
        "# Third-party imports\n",
        "import requests\n",
        "from tqdm import tqdm\n",
        "from dotenv import load_dotenv\n",
        "import pandas as pd\n",
        "from IPython.display import display, HTML\n",
        "import ipywidgets as widgets\n",
        "\n",
        "# Pinecone and Rich libraries\n",
        "from pinecone import Pinecone\n",
        "from rich import print as rprint\n",
        "from rich.console import Console\n",
        "from rich.table import Table\n",
        "from rich import box"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "lHPQjt5n6mJ8"
      },
      "source": [
        "# Data Acquisition\n",
        "Download Compaq's 10-K filings from the SEC Edgar database:"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 3,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/"
        },
        "id": "7IbOIGsB5X0g",
        "outputId": "2293c053-bc70-4095-cf7a-3f5349961a59"
      },
      "outputs": [
        {
          "name": "stdout",
          "output_type": "stream",
          "text": [
            "Enter your company name: Pinecone\n",
            "Enter your email address (input hidden): ··········\n"
          ]
        },
        {
          "name": "stderr",
          "output_type": "stream",
          "text": [
            "Downloading filings: 100%|██████████| 9/9 [00:10<00:00,  1.15s/file]\n"
          ]
        }
      ],
      "source": [
        "# The common base URL for SEC EDGAR filings\n",
        "BASE_URL = \"https://www.sec.gov/Archives/edgar/data/714154/\"\n",
        "\n",
        "# Each year's unique URL tail\n",
        "URL_TAILS = {\n",
        "    \"1994\": \"0000714154-94-000005.txt\",\n",
        "    \"1995\": \"0000714154-95-000007.txt\",\n",
        "    \"1996\": \"0000714154-96-000006.txt\",\n",
        "    \"1997\": \"0000950129-97-000786.txt\",\n",
        "    \"1998\": \"0001015402-98-000028.txt\",\n",
        "    \"1999\": \"0001015402-99-000214.txt\",\n",
        "    \"2000\": \"000091205700008116/0000912057-00-008116.txt\",\n",
        "    \"2001\": \"000089056601000112/0000890566-01-000112.txt\",\n",
        "    \"2002\": \"000095012902000383/0000950129-02-000383.txt\",\n",
        "}\n",
        "\n",
        "# Prompt for company name and email, with the email input hidden\n",
        "user_company = input(\"Enter your company name: \")\n",
        "user_email = getpass.getpass(\"Enter your email address (input hidden): \")\n",
        "user_agent_declaration = f\"{user_company} {user_email}\"\n",
        "\n",
        "headers = {\n",
        "    \"User-Agent\": user_agent_declaration,\n",
        "    \"Accept-Encoding\": \"gzip, deflate\",\n",
        "    \"Host\": \"www.sec.gov\"\n",
        "}\n",
        "\n",
        "def download_10ks(url_tails: dict, base_url: str, download_dir: str = \"data\") -> None:\n",
        "    \"\"\"\n",
        "    Download SEC 10-K filings for each specified year.\n",
        "\n",
        "    Args:\n",
        "        url_tails (dict): Mapping of year to file tail URL.\n",
        "        base_url (str): The base URL for filings.\n",
        "        download_dir (str): Directory to save downloaded files.\n",
        "    \"\"\"\n",
        "    os.makedirs(download_dir, exist_ok=True)\n",
        "\n",
        "    for year, tail in tqdm(url_tails.items(), desc=\"Downloading filings\", unit=\"file\"):\n",
        "        url = f\"{base_url}{tail}\"\n",
        "        response = requests.get(url, headers=headers)\n",
        "        file_path = os.path.join(download_dir, f\"{year}.txt\")\n",
        "        with open(file_path, 'w', encoding='utf-8') as file:\n",
        "            file.write(response.text)\n",
        "        time.sleep(1)\n",
        "\n",
        "\n",
        "download_10ks(URL_TAILS, BASE_URL)\n"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 4,
      "metadata": {
        "id": "zsjGAqIY5X0g"
      },
      "outputs": [],
      "source": [
        "texts = {\n",
        "    year: open(f\"data/{year}.txt\", encoding=\"utf-8\").read()\n",
        "    for year in URL_TAILS.keys()\n",
        "}"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "_TEVR2I46p6n"
      },
      "source": [
        "# Data Preprocessing\n",
        "Remove unwanted tags, extract tables, and split the data into manageable chunks:"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 5,
      "metadata": {
        "id": "yorDldAN5X0g"
      },
      "outputs": [],
      "source": [
        "def remove_unwanted_tags(text: str, keep_tags: list = None) -> str:\n",
        "    \"\"\"\n",
        "    Remove all HTML/XML tags from text except for specified tags to keep.\n",
        "\n",
        "    Args:\n",
        "        text (str): Input text containing tags.\n",
        "        keep_tags (list, optional): List of tag names to retain (without angle brackets).\n",
        "                                    Defaults to [\"TABLE\"].\n",
        "\n",
        "    Returns:\n",
        "        str: Cleaned text with unwanted tags removed.\n",
        "    \"\"\"\n",
        "    if keep_tags is None:\n",
        "        keep_tags = [\"TABLE\"]\n",
        "    keep_pattern = '|'.join(keep_tags)\n",
        "    pattern = re.compile(rf'<(?!/?(?:{keep_pattern})\\b)[^>]+>')\n",
        "    return pattern.sub('', text)\n",
        "\n",
        "\n",
        "def parse_10ks(year: str, document_text: str) -> str:\n",
        "    \"\"\"\n",
        "    Extract and clean the text enclosed within <TEXT> tags of a 10-K filing.\n",
        "\n",
        "    Args:\n",
        "        year (str): The filing year.\n",
        "        document_text (str): Raw text of the filing.\n",
        "\n",
        "    Returns:\n",
        "        str: Cleaned text within the <TEXT> tags, or an empty string if not found.\n",
        "    \"\"\"\n",
        "    pattern = re.compile(r\"<TEXT>(.*?)</TEXT>\", re.DOTALL)\n",
        "    matches = pattern.findall(document_text)\n",
        "    if not matches:\n",
        "        print(f\"Document text not found for year {year}\")\n",
        "        return \"\"\n",
        "    return remove_unwanted_tags(matches[0])"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "OdyI6jQFg806"
      },
      "source": [
        "## Chunking Data by Tables\n",
        "Split the document text into table sections and non-table text:"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 6,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/"
        },
        "id": "ydhqtGks9FEc",
        "outputId": "09e58318-eb76-40d9-e125-27d7ed8327f3"
      },
      "outputs": [
        {
          "name": "stdout",
          "output_type": "stream",
          "text": [
            "<TABLE> <S> <C>\n",
            "\n",
            "<ARTICLE> 5\n",
            "<LEGEND>\n",
            "THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM\n",
            "COMPAQ COMPUTER CORPORATION'S CONSOLIDATED BALANCE SHEET AND CONSOLIDATED\n",
            "STATEMENT OF INCOME FOR THE PERIOD ENDED DECEMBER 31, 1995 AND IS QUAILIFIED\n",
            "IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.\n",
            "</LEGEND>\n",
            "<MULTIPLIER> 1,000,000\n",
            "       \n",
            "<S>                             <C>\n",
            "<PERIOD-TYPE>                   YEAR\n",
            "<FISCAL-YEAR-END>                          DEC-31-1995\n",
            "<PERIOD-END>                               DEC-31-1995\n",
            "<CASH>                                             745\n",
            "<SECURITIES>                                         0\n",
            "<RECEIVABLES>                                    3,241\n",
            "<ALLOWANCES>                                       100\n",
            "<INVENTORY>                                      2,156\n",
            "<CURRENT-ASSETS>                                 6,527\n",
            "<PP&E>                                           1,981\n",
            "<DEPRECIATION>                                     871\n",
            "<TOTAL-ASSETS>                                   7,818\n",
            "<CURRENT-LIABILITIES>                            2,680\n",
            "<BONDS>                                            300\n",
            "<PREFERRED-MANDATORY>                                0\n",
            "<PREFERRED>                                          0\n",
            "<COMMON>                                           890\n",
            "<OTHER-SE>                                       3,724\n",
            "<TOTAL-LIABILITY-AND-EQUITY>                     7,818\n",
            "<SALES>                                         14,755\n",
            "<TOTAL-REVENUES>                                14,755\n",
            "<CGS>                                           11,367\n",
            "<TOTAL-COSTS>                                   11,367\n",
            "<OTHER-EXPENSES>                                   511<F1>\n",
            "<LOSS-PROVISION>                                    43\n",
            "<INTEREST-EXPENSE>                                  99\n",
            "<INCOME-PRETAX>                                  1,188\n",
            "<INCOME-TAX>                                       399\n",
            "<INCOME-CONTINUING>                                789\n",
            "<DISCONTINUED>                                       0\n",
            "<EXTRAORDINARY>                                      0\n",
            "<CHANGES>                                            0\n",
            "<NET-INCOME>                                       789\n",
            "<EPS-PRIMARY>                                     2.88\n",
            "<EPS-DILUTED>                                     2.87\n",
            "<FN>\n",
            "<F1>Includes research and development costs and purchased in-process technology.\n",
            "</FN>\n",
            "        \n",
            "\n",
            "\n",
            "</TABLE>\n"
          ]
        }
      ],
      "source": [
        "def chunk_by_table(document_text: str) -> dict:\n",
        "    \"\"\"\n",
        "    Split document text into table and non-table parts.\n",
        "\n",
        "    Args:\n",
        "        document_text (str): Raw document text.\n",
        "\n",
        "    Returns:\n",
        "        dict: Dictionary with keys 'tables' (list of table sections)\n",
        "              and 'texts' (concatenated non-table text).\n",
        "    \"\"\"\n",
        "    chunks = {\"tables\": [], \"texts\": []}\n",
        "    table_pattern = re.compile(r'(<TABLE.*?</TABLE>)', re.DOTALL | re.IGNORECASE)\n",
        "    parts = table_pattern.split(document_text)\n",
        "\n",
        "    for part in parts:\n",
        "        if not part.strip():\n",
        "            continue\n",
        "        if table_pattern.match(part):\n",
        "            chunks[\"tables\"].append(part)\n",
        "        else:\n",
        "            chunks[\"texts\"].append(part)\n",
        "\n",
        "    chunks[\"texts\"] = \"\".join(chunks[\"texts\"])\n",
        "    return chunks\n",
        "\n",
        "test_table_chunking = chunk_by_table(texts['1996'])\n",
        "\n",
        "print((test_table_chunking[\"tables\"][0]))"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 7,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/",
          "height": 125
        },
        "id": "Rgl9wvj_WXPt",
        "outputId": "06311072-1599-415c-d79a-8a056ed2c5db"
      },
      "outputs": [
        {
          "data": {
            "application/vnd.google.colaboratory.intrinsic+json": {
              "type": "string"
            },
            "text/plain": [
              "'\\n\\n______________________________________________________________________\\n\\n                  SECURITIES AND EXCHANGE COMMISSION\\n                        Washington, D.C. 20549\\n\\n                              FORM 10-K\\n\\n           ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF\\n                 THE SECURITIES EXCHANGE ACT OF 1934\\n\\n             For the Fiscal Year Ended December 31, 1995\\n\\n                    Commission File Number 1-9026\\n\\n                     COMPAQ COMPUTER CORPORATION\\n        (Exact name of registrant as specified in its charter)\\n\\n             Delaware                        76-0011617\\n (State or other jurisdiction of          (I.R.S. Employer\\n  incorporation or organization)        Identification No.)\\n\\n                  20555 SH 249, Houston, Texas 77070\\n                            (713) 370-0670\\n    (Address, including zip code, and telephone number, including\\n       area code, of registrant\\'s principal executive offices)\\n\\nSecurities registered pursuant to Section 12(b) of the Act:\\n\\n                                                 Name of each exchange on\\n            Title of each class                      which registered\\n\\n       Common Stock, $.01 par value              New York Stock Exchange\\n              Debt Securities                              None\\n\\nSecurities registered pursuant to Section 12(g) of the Act:  None\\n\\n     Indicate by check mark whether the registrant (1) has filed all\\nreports required to be filed by Section 13 or 15(d) of the Securities\\nExchange Act of 1934 during the preceding 12 months (or for such\\nshorter period that the registrant was required to file such reports),\\nand (2) has been subject to such filing requirements for the past 90\\ndays.  Yes [ x ]  No [   ]\\n\\n     Indicate by check mark if disclosure of delinquent filers\\npursuant to Item 405 of Regulation S-K is not contained herein, and\\nwill not be contained, to the best of registrant\\'s knowledge, in\\ndefinitive proxy or information statements incorporated by reference\\nin Part III of this Form 10-K or any amendment to this Form 10-K. [ x ]\\n\\n     The aggregate market value of the voting stock held by non-\\naffiliates of the registrant on January 31, 1996 (based on the last\\nsale price on the New York Stock Exchange as of such date), was $12.5\\nbillion.\\n\\n     The number of shares of the registrant\\'s Common Stock, $.01 par\\nvalue, outstanding as of January 31, 1996, was 267 million.\\n\\n                 DOCUMENTS INCORPORATED BY REFERENCE\\n\\n     There is incorporated by reference in Part III of this Annual\\nReport on Form 10-K the information contained in the registrant\\'s\\nproxy statement for its annual meeting of stockholders to be held\\nApril 25, 1996.\\n______________________________________________________________________\\n\\n\\nPART I\\n\\nItem 1.  Business\\n\\nGeneral\\n\\n     Compaq Computer Corporation, founded in 1982, designs, develops,\\nmanufactures, and markets a wide range of personal computing products,\\nincluding desktop personal computers, portable computers, and tower PC\\nservers and peripheral products that store and manage data in network\\nenvironments.  The Company markets its products primarily to business,\\nhome, government, and education customers.  The Company operates in\\none principal industry segment across geographically diverse markets.\\nAs used herein, the term \"Company\" means Compaq Computer Corporation\\nand its consolidated subsidiaries, unless the context indicates\\notherwise.\\n\\n     In 1995 the Company reinforced its position as the largest\\nsupplier of personal computers in the world.  It maintained\\napproximately 10% of the expanding worldwide PC market by focusing its\\nbusiness activities on expanding sales to new customers while\\naugmenting sales to its existing customer base.  Business customers\\naccount for the largest portion of the Company\\'s sales.  Business\\ncustomers are attracted to the Company\\'s products for a variety of\\nreasons, including the Company\\'s reputation for reliability, price,\\nproduct performance and technological excellence, the availability of\\na wide variety of application software, ease of use, and connectivity\\nsolutions.\\n\\n     In the future, the Company plans to capitalize on its leadership\\nposition in integrating hardware and software to furnish the building\\nblocks of personal and corporate computing while participating in\\nsoftware and communications markets either directly or through\\nbusiness alliances.  Through this strategy, the Company expects to\\nbecome a leading provider of enterprise-wide solutions for business as\\nwell as information appliances for the home by offering the products\\nand services that customers need to easily access and manage\\ninformation.  The Company believes its key to success is leveraging\\nthe Company\\'s marketing skills, engineering talent, purchasing power,\\nmanufacturing capabilities, distribution strengths, and brand name to\\nbring to market high-quality cost-competitive products in different\\nprice ranges with features that appeal to a wide variety of customers.\\n\\nCompaq Products\\n\\n     The Company\\'s products are available with a broad variety of\\nfunctions and features designed to accommodate a wide range of user\\nneeds.  The Company\\'s PC CPU products are backed by three-year limited\\nwarranties, which are among the most comprehensive in the industry.\\n\\n     In 1995 sales of commercial desktop personal computers and\\nrelated options accounted for 45% of the Company\\'s sales.  The Deskpro\\nproduct line is the Company\\'s high-performance line with advanced\\nfeatures; ProLinea products are the Company\\'s business value line.  In\\nMarch 1995 the Company announced the largest product introduction in\\nits history, which included more than 100 models of its next\\ngeneration ProLinea and Deskpro desktop PCs.  The new Deskpro PCs\\ndelivered an innovative set of desktop management tools and features\\nthat reduce the total cost of PC ownership.  Compaq\\'s \"Intelligent\\nManageability\" solutions result from bringing the Company\\'s server\\nmanagement technology to the desktop, combined with joint development\\nefforts with leading network software providers.  Later in the year\\nthe Company announced additional desktop products, including products\\nthat feature Intel\\'s Pentium Pro processor and a rewritable optical CD-\\nROM drive.  These new PCs include the Compaq Deskpro XL 6150, Compaq\\'s\\nmost powerful desktop, and the ProLinea 6150E, which offers powerful\\ntechnology at a more affordable price.\\n\\n     In May 1995 the Company formed the Consumer Products Division as\\npart of its on-going effort to intensify its focus on consumer PCs and\\nthe retail marketplace.  In 1995 sales of computers and related\\noptions aimed at the consumer and home office market accounted for 16%\\nof the Company\\'s sales.  Building on the success of the Compaq family\\nof Presario consumer PCs, the Company introduced the industry\\'s first\\n\"quad-speed\" CD-ROM drives on all Presario models early in the year,\\nand in the fourth quarter, introduced the next generation Presario\\n9500, 7100 and 5500 Series, featuring innovative audio and video\\ntechnology.\\n\\n     Sales of portable personal computers and related options\\naccounted for 17% of the Company\\'s sales in 1995.  In October the\\nCompany began shipping its high-performance LTE 5000 family of\\nproducts featuring 64-bit Pentium architecture and the industry\\'s\\nhighest hard drive storage and memory capacity.  The Company also made\\nsignificant enhancements to its Contura value line, featuring faster\\nprocessors, larger displays, higher capacity hard drives, and more\\nmemory.\\n\\n     Sales of PC system products and related options accounted for 22%\\nof the Company\\'s sales in 1995. Delivering mid-range functionality in\\nits most powerful, most tightly integrated server platforms to date,\\nCompaq introduced new ProLiant 4500 and 1500 models, including the\\nProLiant 4500 NT/Array model--the first server product to ship with\\nMicrosoft BackOffice.  Compaq also announced new versions of\\nSmartStart, Compaq\\'s integration tool that optimizes software/hardware\\nconfiguration and simplifies installation and delivery of reliable\\nservers, and Compaq Insight Manager, Compaq\\'s application for managing\\nnetwork desktops and servers.  In the fourth quarter of 1995 the\\nCompany acquired NetWorth, Inc., a publicly-held developer,\\nmanufacturer, and supplier of fast ethernet hubs, switches, and\\nrelated products, and Thomas-Conrad Corporation, a privately-held\\nmaker of network interface cards and hubs.  Through these\\nacquisitions, third-party alliances, and existing products, the\\nCompany plans to offer total end-to-end network solutions from the\\nserver to the client.\\n\\n     The Company offers a number of options products for its desktop,\\nportable, and systems products, including add-on video display\\nmonitors, memory upgrades, storage and backup devices, docking\\nstations, and communications products.  In January 1996 the Company\\nannounced five new monitors, each with energy conservation features\\nand low emissions (MPR-II compliant) as well as a Sony Trinitron\\ndisplay tube, for graphics-intensive uses.\\n\\nProduct Development\\n\\n     The Company is actively engaged in the design and development of\\nadditional products and enhancements to its existing products.  During\\n1995, 1994, and 1993, the Company expended $270 million, $226 million,\\nand $169 million, respectively, on research and development.  Since\\npersonal computer technology develops rapidly, the Company\\'s continued\\nsuccess is dependent on the timely introduction of new products with\\nthe right price and features.  Its engineering effort focuses on new\\nand emerging technologies as well as design features that will\\nincrease manufacturing efficiency and lower production costs.  In 1995\\nthe Company focused on technological developments for PC products\\nrelated to color and monochrome active matrix flat panels, power\\nconservation, communication devices, full-motion video and stereo\\nsound, full-duplex speaker telephone, television tuner, user-friendly\\nsoftware, component densification, speech recognition technology, and\\nserver and client management software.\\n\\n     In 1996 the Company\\'s Systems Division plans to reinforce its\\nleadership position in the file server market and to expand its\\npresence in the distributed enterprise market for complex enterprise-\\nclass networks.  In February Compaq introduced the ProLiant 4500 5/166\\nenterprise-class server as well as enterprise-class network storage\\nsolutions and microprocessor upgrades in other high performance\\nProLiant and ProSignia servers.  The Company also announced additional\\nenhancements to SmartStart and Compaq Insight Manager.  In the second\\nhalf of 1996 Compaq will formally introduce the first router products\\nfrom its newly-formed Internetworking Products Group and introduce its\\nfirst Pentium Pro server.  Throughout 1996, the Company plans to\\ndeliver leadership platforms; enhance the integration, maintenance and\\nmanagement of servers; and build upon strategic alliances with joint\\ndevelopment partners, software vendors, reseller channels, systems\\nintegrators and service providers.  The Company intends to be a\\nleading provider of platforms, tools, and services that enable\\ncustomers to have instant access through networked information systems\\nto up-to-the minute data essential to running their businesses.  In\\nOctober the Company announced a collaboration with Tandem Computer\\nCorporation and Microsoft Corporation to develop an industry standard\\nfor clustering, a technique that permits the resources of several\\ncomputers to be linked.  The Company and Tandem Computer Corporation\\nwill collaborate on an industry standard means of providing high\\nspeed, fault tolerant messaging between clustered servers.  This\\ntechnology will fit into the WindowsNT server availability and\\nscalability strategy also announced by Microsoft Corporation.\\n\\n     The Company intends to be the Internet platform leader, both on\\nthe network server side and the client side.  On the network server\\nside, the Company will leverage its strong partnerships along with its\\nexisting strength in servers and internetworking devices to deliver\\noptimized, cost-effective Internet servers.  On the client side, the\\nCompany will leverage existing strengths in home and commercial PCs to\\nensure the highest level of Internet readiness, and will develop new\\nlower-cost devices that can open new markets for Internet access.\\n\\n     Compaq plans to continue its desktop leadership in 1996 with the\\ndelivery of the Pentium Pro-based products that will address the high\\nperformance and graphic-display intensive needs of engineering and\\nfinancial analyst workstation customers.  The Company also plans to\\ncontinue its leadership in Intelligent Manageability by introducing\\ndesktop enhancements that help companies further reduce their overall\\ncost of ownership.  In October the Company and Intel Corporation\\nannounced their plans to develop and co-market integrated desktop\\nstandards-based, real-time video conferencing solutions for the\\nbusiness environment based on Intel\\'s ProShare Personal Conferencing\\ntechnology.  This effort is expected to result in a broad, multi-\\nproduct array of interoperable conferencing solutions.\\n\\n     The Company has initiated an aggressive 1996 new product strategy\\nin its Portables Division, including a new product family that will\\nbring to market significant advances in sound quality, telephone and\\ncommunications capabilities.  In January the Company introduced its\\nfirst Ethernet LAN PC card that allows users of notebook computers to\\nconnect easily to any corporate network.  Customers can also expect to\\nsee extensions to the LTE 5000 product family, with new options,\\nlarger screens, faster processors, and extended communications\\ndevices.\\n\\n     In January 1996 the Company introduced its spring lineup of home\\nmultimedia PCs that includes the industry\\'s first combination\\nscanner/keyboard, \"rewritable\" CD-ROM drives, 6X-speed CD-ROM drives,\\nand Pentium processors.  Entering the field of \"edutainment\" for the\\nfirst time, in early 1996 the Company and Fisher-Price, Inc. unveiled\\nWonder Tools, a new line of interactive computer toys, peripherals and\\nsoftware titles designed for children ages three to seven.  The\\nproducts are designed to be used with any Windows-based PC, and are\\nscheduled to be available in North America during the second half of\\n1996.  In the second half of the year, the Company plans to announce\\nits fall line-up of home PCs.  This product line will represent the\\nfirst \"grounds-up\" redesign of home PCs resulting from the formation\\nof the Compaq Consumer Division in May 1995.  This product lineup will\\ntarget distinct customer segments and introduce entirely new product\\ncategories for the home PC buyer.  In addition, the Company is\\ncurrently evaluating technology developments such as videophone\\ncommunications, arcade-level graphics, easier to use software\\ninterfaces, and colorful new PC designs.\\n\\nManufacturing and Materials\\n\\n     The Company\\'s PC manufacturing operations consist of\\nmanufacturing finished products and various circuit boards from\\ncomponents and subassemblies that the Company acquires from a wide\\nrange of vendors. Certain of the Company\\'s products are manufactured\\nby third party original equipment manufacturers. The Company has PC\\nmanufacturing operations located in Houston, Texas; Erskine, Scotland;\\nSingapore; Jaguariuna, Brazil; and Shenzhen, China.  Products sold in\\nEurope are manufactured primarily in the Company\\'s facilities in\\nErskine, Scotland, and Singapore.  Products sold in the U.S. are\\nprimarily manufactured in the Company\\'s facilities in Houston, Texas,\\nand Singapore.  Products sold in Asia are primarily manufactured in\\nSingapore, while products sold in Latin America are primarily\\nmanufactured in Houston, Texas, and Jaguariuna, Brazil.  In addition,\\nthe Company manufactures hubs and high speed switches in Irving,\\nTexas, and network interface cards in Austin, Texas.\\n\\n     The Company believes that there is a sufficient number of\\ncompetent vendors for most components and subassemblies.  A\\nsignificant number of components, however, are purchased from single\\nsources due to technology, availability, price, quality, or other\\nconsiderations.  Key components and processes currently obtained from\\nsingle sources include certain of the Company\\'s displays,\\nmicroprocessors, application specific integrated circuits and other\\ncustom chips, and certain processes relating to construction of the\\nplastic housing for the Company\\'s computers.  In addition, new\\nproducts introduced by the Company often initially utilize custom\\ncomponents obtained from only one source until the Company has\\nevaluated whether there is a need for additional suppliers.  In the\\nevent that a supply of a key single-sourced material, process, or\\ncomponent were delayed or curtailed, the Company\\'s ability to ship the\\nrelated product in desired quantities and in a timely manner could be\\nadversely affected.  The Company attempts to mitigate these risks by\\nworking closely with key suppliers on product plans, strategic\\ninventories, and coordinated product introductions.\\n\\n     Like other participants in the personal computer industry, Compaq\\nordinarily acquires materials and components through purchase orders\\ntypically covering the Company\\'s requirements for periods averaging 90\\nto 120 days.  From time to time the Company has experienced\\nsignificant price increases and limited availability of certain\\ncomponents that are available from multiple sources, such as dynamic\\nrandom-access memory devices.  At times the Company has been\\nconstrained by parts availability in meeting product orders and future\\nconstraints could have an adverse effect on the Company\\'s operating\\nresults.  On occasion the Company acquires component inventory in\\nanticipation of supply constraints.  A restoration of component\\navailability and resulting decline in component pricing more quickly\\nthan anticipated could have an adverse effect on the Company\\'s\\noperating results.\\n\\nMarketing and Distribution\\n\\n     The Company distributes its products principally through third-\\nparty computer resellers.  The Company\\'s products are sold to large\\nand medium-sized business and government customers primarily through\\ndealers, value-added resellers, and systems integrators and to small\\nbusiness and home customers principally through dealers and consumer\\nchannels.  In response to changing industry practices and customer\\npreferences, the Company is continuing its expansion of distribution\\nestablishments, especially mass merchandise stores, consumer\\nelectronics outlets, and computer superstores.  The Company also sells\\ndirectly to small business and home customers through the Company\\'s\\nDirectPlus mail order business that features a variety of personal\\ncomputers, printers, and software products.\\n\\n     In 1995 North American Division sales constituted 49% of the\\nCompany\\'s total sales and Europe, Middle East, and Africa Division\\nsales constituted 36%.  The Company\\'s North America Division markets\\nits products in the United States and Canada, while the Company\\'s\\nEurope, Middle East, and Africa Division, based in Munich, Germany,\\nfocuses on opportunities in Europe as well as in parts of Africa and\\nthe Middle East.  The sales of the Company\\'s Asia/Pacific, Japan, and\\nLatin America Divisions, which focus on opportunities in these high\\ngrowth areas, constitute the remaining 15% of the Company\\'s total\\nsales.  The Company\\'s products are now sold by dealers in more than\\n100 countries.  For further geographic information for 1995, 1994, and\\n1993, see Management\\'s Discussion and Analysis of Financial Condition\\nand Results of Operations and Note 10 of Notes to Consolidated\\nFinancial Statements.\\n\\nService and Support\\n\\n     The Company provides support and warranty repair to its customers\\nthrough full-service computer dealers and independent third-party\\nservice companies.  The Company offers its customers CompaqCare, which\\nincludes a number of customer service and support programs, most\\nnotably three-year limited warranties on PC products (excluding\\nmonitors and batteries) and in the U.S. round-the-clock lifetime\\ntelephone technical support for Compaq hardware products at no\\nadditional charge to the customer.  In 1995 Digital Multivendor\\nCustomer Services became the Company\\'s Global Service and Support\\nProvider for its systems products.\\n\\nPatents, Trademarks, and Licenses\\n\\n     The Company held 422 patents (including 73 design patents) and\\nhad 455 patent applications (including 27 design patent applications)\\npending with the United States Patent and Trademark Office at the\\nclose of 1995.  In addition, the Company has registered certain\\ntrademarks in the United States and in a number of foreign countries.\\nWhile the Company believes that patent and trademark protection plays\\nan important part in its business, the Company relies primarily upon\\nthe technological expertise, innovative talent, and marketing\\nabilities of its employees.\\n\\n     The Company has from time to time entered into cross-licensing\\nagreements with other companies holding patents to technology used in\\nthe Company\\'s products as well as companies using patents to\\ntechnology held by the Company.  The Company holds a license from IBM\\nfor all patents issuing on applications filed prior to July 1, 1993,\\nand has entered into a patent cross-license agreement with Texas\\nInstruments, Inc., for all patents issuing on applications filed prior\\nto December 31, 2005.  In January 1996 the Company and Intel\\nCorporation entered into a ten year patent cross-license agreement.\\n\\nSeasonality\\n\\n     Although the Company does not consider its business to be highly\\nseasonal, the Company in general experiences seasonally higher sales\\nand earnings in the fourth quarter of the year.\\n\\nWorking Capital\\n\\n     Information regarding the Company\\'s working capital position and\\npractices is set forth under Item 7 of this Annual Report on Form 10-K\\nunder the caption \"Liquidity and Capital Resources.\"\\n\\nCustomers\\n\\n     No customer of the Company accounted for 10% or more of sales for\\n1995.  Ingram Micro, Inc. and Intelligent Electronics, Inc. accounted\\nfor 7% and 5% of 1995 sales, respectively.\\n\\nBacklog\\n\\n     The Company\\'s resellers typically purchase products on an as-\\nneeded basis and resellers frequently change delivery schedules and\\norder rates depending on market conditions.  Unfilled orders can be,\\nand often are, canceled at will and without penalties.  In the\\nCompany\\'s experience, however, the actual amount of unfilled orders at\\nany particular time is not a meaningful indication of its future\\nbusiness prospects since orders rapidly become balanced as soon as\\nsupply begins meeting demand.  In 1995 the Company was unable to\\nproduce certain products on a timely basis due to supply constraints\\non certain components.  Should the Company be unable to meet demand\\nfor its products on a timely basis,  customer satisfaction and sales\\ncould be adversely affected.\\n\\nCompetition\\n\\n     The computer industry is intensely competitive with many U.S.,\\nJapanese, and other international companies vying for market share.\\nThe market continues to be characterized by rapid technological\\nadvances in both hardware and software developments that have\\nsubstantially increased the capabilities and applications of\\ninformation management products and have resulted in the frequent\\nintroduction of new products.  The principal elements of competition\\nare price, product performance, product quality and reliability,\\nservice and support, marketing and distribution capability, and\\ncorporate reputation.  While the Company believes that its products\\ncompete favorably based on each of these elements, the Company could\\nbe adversely affected if its competitors introduce innovative or\\ntechnologically superior products or offer their products at\\nsignificantly lower prices than the Company.  No assurance can be\\ngiven that the Company will have the financial resources, marketing\\nand service capability, or technological knowledge to continue to\\ncompete successfully.  The Company\\'s results could also be adversely\\naffected should it be unable to implement effectively its\\ntechnological and marketing alliances with other companies, such as\\nMicrosoft, Intel, Sharp, Novell, Oracle, SAP, Sybase, Cisco Systems,\\nTexas Instruments, AMD, and VLSI, among others, and to manage the\\ncompetitive risks associated with these relationships.\\n\\nEnvironmental Laws and Regulations\\n\\n     The Company recognizes that operating in a manner that is\\ncompatible with the environment is good for its community, employees,\\ncustomers, and business.  The Company integrates numerous\\nenvironmental features in the product design and manufacturing process\\nthat reduce the potential environmental impact during the lifecycle of\\nits products and its products are designed and manufactured to meet a\\nvariety of the world\\'s environmental standards and expectations.  The\\nCompany uses no chlorofluorocarbons (CFCs) in its worldwide\\nmanufacturing operations and undertakes ongoing environmental\\nprograms, including waste reduction, energy conservation, recycling,\\nand design for environment.  The Company maintains a worldwide\\nenvironmental health and safety audit program.  The audit program\\nincludes management system and compliance evaluations.  Compliance\\nwith laws enacted for protection of the environment to date has had no\\nmaterial effect upon the Company\\'s capital expenditures, earnings, or\\ncompetitive position.  Although the Company does not anticipate any\\nmaterial adverse effects in the future based on the nature of its\\noperations and the purpose of environmental laws and regulations,\\nthere can be no assurance that such laws or future laws will not have\\na material adverse effect on the Company.\\n\\nEmployees\\n\\n     At December 31, 1995 the Company had 17,055 full-time regular\\nemployees and 6,829 temporary and contract workers engaged in\\nmanufacturing operations, engineering, research and development,\\nmarketing, sales, service, and administrative activities.  The Company\\nbelieves that its ability to attract and retain skilled personnel\\nappropriately is critical to its success.  Accordingly, the Company\\nhas developed competitive human resources policies consistent with its\\nbusiness plan.\\n\\nItem 2.  Properties\\n\\n     The Company\\'s principal administrative facilities and a\\nmanufacturing facility are located in Houston, Texas.  These\\nfacilities include 860,000 square feet of manufacturing space on the\\nCompany\\'s 1,000-acre Compaq Center in Houston.  The Company owns 13\\nadministrative buildings with a total of 2,600,000 square feet of\\nspace at Compaq Center.  The Company leases sales offices in eight\\ncities in the United States as well as certain administrative and\\nwarehouse facilities.  The Company leases manufacturing facilities in\\nAustin, Texas, and Irving, Texas, that are used in the manufacture of\\nhubs, high speed switches, and network interface cards.\\n\\n     The Company also owns or leases certain facilities abroad.  The\\nCompany owns a 43-acre tract in Erskine, Scotland, where it has\\n540,000 square feet of manufacturing space.  In Singapore the Company\\nowns 720,000 square feet of manufacturing space and leases 150,000\\nsquare feet.  In Brazil the Company owns a 150,000 square foot\\nmanufacturing facility and in China the Company leases a 90,000 square\\nfoot manufacturing facility. The Company leases sales and\\nadministrative offices in 35 European and African locations, 9\\nlocations in Latin America, 21 locations in the Asia Pacific region, 3\\nlocations in Japan, and 5 locations in Canada.  The Company\\'s 372,000\\nsquare foot European distribution center is located in Gorinchem, The\\nNetherlands.  The Company also leases warehouse space in a number of\\nlocations.\\n\\nItem 3.  Legal Proceedings\\n\\n     The Company has been named as a defendant in a number of\\nrepetitive stress injury lawsuits, primarily in New York state courts\\nor federal district courts for the New York City area.  In each of\\nthese lawsuits the plaintiff alleges that he or she suffers from\\nsymptoms generally known as repetitive stress injury, which allegedly\\nwere caused by the design of the keyboard or a failure to warn of the\\nhazards of misuse.  The suits naming the Company are similar to those\\nfiled against other major suppliers of personal computers.  Ultimate\\nresolution of the litigation against the Company may depend on\\nprogress in resolving this type of litigation overall.  The Company is\\nunable to determine at this time the outcome of these suits or the\\nlikelihood of the Company being named in additional suits by\\nplaintiffs alleging similar injuries.  The Company has denied these\\nclaims and intends to defend vigorously the suits.  The Company\\nbelieves that the claims will not have a material adverse effect on\\nthe Company\\'s consolidated financial position or operating results.\\n\\nItem 4.  Submission of Matters to a Vote of Security Holders\\n\\n     There were no matters submitted to a vote of security holders\\nduring the fourth quarter of 1995.\\n\\n\\nPART II\\n\\nItem 5.  Market for Registrant\\'s Common Equity and Related Stockholder\\nMatters\\n\\nMarket for Common Stock\\n\\n     The Company\\'s Common Stock is listed on the New York Stock\\nExchange and trades under the symbol CPQ.  The following table\\npresents the high and low sale prices for the Company\\'s Common Stock\\nfor each quarter of 1995 and 1994 (adjusted to reflect a three-for-one\\nstock split effective May 31, 1994), as reported by Dow Jones\\nHistorical Stock Quote Reporter Service.\\n\\n                      1995                   1994\\n                 High       Low         High       Low\\n                ------    ------       ------    ------\\n1st quarter     $44.38    $31.75       $34.96    $24.17\\n2nd quarter      46.25     30.38        39.88     30.75\\n3rd quarter      54.75     42.75        39.38     29.50\\n4th quarter      56.75     42.75        42.12     30.75\\n\\nHolders of Record\\n\\n     At January 31, 1996, there were 8,984 holders of record of the\\nCompany\\'s common stock.\\n\\nDividends\\n\\n     The Company has never paid cash dividends on its common stock.\\n\\nRegistration Statements on Form S-8\\n\\n     For the purposes of complying with the amendments to the rules\\ngoverning Form S-8 under the Securities Act of 1933, the undersigned\\nregistrant hereby undertakes as follows, which undertaking shall be\\nincorporated by reference into registrant\\'s Registration Statements on\\nForm S-8 Nos. 33-44115, 33-31819, 33-23504, 33-7499, 2-89925, 33-\\n10106, 33-38044, 33-16987, and 33-62603.\\n\\n     That, insofar as indemnification for liabilities arising under\\nthe Securities Act of 1933 may be permitted to directors, officers,\\nand controlling persons of the Registrant pursuant to any provision or\\narrangement whereby the Registrant may indemnify a director, officer,\\nor controlling person of the Registrant against liabilities arising\\nunder the Securities Act, or otherwise, the Registrant has been\\nadvised that in the opinion of the Securities and Exchange Commission\\nsuch indemnification is against public policy as expressed in the Act\\nand is, therefore, unenforceable.  In the event that a claim for\\nindemnification against such liabilities (other than the payment by\\nthe Registrant of expenses incurred or paid by a director, officer, or\\ncontrolling person of the Registrant in the successful defense of any\\naction, suit, or proceeding) is asserted by such director, officer, or\\ncontrolling person in connection with the securities being registered,\\nthe Registrant will, unless in the opinion of its counsel the matter\\nhas been settled by controlling precedent, submit to a court of\\nappropriate jurisdiction the question whether such indemnification by\\nit is against public policy as expressed in the Act and will be\\ngoverned by the final adjudication of such issue.\\n\\nTermination of Stockholders Rights Plan\\n\\n     On May 18, 1989, the Company\\'s Board of Directors approved a\\nStockholders Rights Plan, which was registered with the Securities and\\nExchange Commission on Form 8-A and listed with the New York Stock\\nExchange on June 5, 1989.  In December 1995, the Rights Agreement was\\namended, terminating this plan on December 31, 1995.\\n\\n\\nItem 6.  Selected Consolidated Financial Data\\n\\n     The following data have been derived from consolidated\\nfinancial statements that have been audited by Price Waterhouse\\nLLP, independent accountants. The information set forth below is\\nnot necessarily indicative of the results of future operations\\nand should be read in conjunction with the consolidated financial\\nstatements and notes thereto appearing elsewhere in this Annual\\nReport on Form 10-K.\\n\\nYear ended December 31,\\nIn millions,\\n except per share amounts        1995     1994     1993     1992     1991\\n- --------------------------------------------------------------------------\\nConsolidated Statement of Income Data:\\n\\nSales                          $14,755  $10,866   $7,191   $4,100   $3,271\\nCost of sales                   11,367    8,139    5,493    2,905    2,053\\n                               -------------------------------------------\\n                                 3,388    2,727    1,698    1,195    1,218\\n                               -------------------------------------------\\n\\nSelling, general, and\\n administrative expense          1,594    1,235      837      699      722\\nResearch and development costs     270      226      169      173      197\\nPurchased in-process\\n technology                        241\\nOther income and expense, net       95       94       76       28      145\\n                               -------------------------------------------\\n                                 2,200    1,555    1,082      900    1,064\\n                               -------------------------------------------\\nIncome from consolidated\\n companies before provision\\n for income taxes                1,188    1,172      616      295      154\\nProvision for income taxes         399      305      154       97       43\\n                               -------------------------------------------\\nIncome from consolidated\\n companies                         789      867      462      198      111\\nEquity in net income of\\n affiliated company                                            15       20\\n                               -------------------------------------------\\nNet income                     $   789  $   867   $  462   $  213   $  131\\n                               ===========================================\\nEarnings per common and\\n common equivalent share:\\n  Primary                      $  2.88  $  3.23   $ 1.82   $  .86   $  .50\\n                               ===========================================\\n  Assuming full dilution       $  2.87  $  3.21   $ 1.78   $  .84   $  .50\\n                               ===========================================\\n\\nDecember 31,\\nIn millions                      1995     1994     1993     1992     1991\\n- --------------------------------------------------------------------------\\nConsolidated Balance Sheet Data:\\n\\nTotal assets                   $ 7,818  $ 6,166   $4,084   $3,142   $2,826\\nLong-term debt                     300      300                         73\\nStockholders\\' equity             4,614    3,674    2,654    2,006    1,931\\n\\n\\nItem 7.  Management\\'s Discussion and Analysis of Financial Condition\\nand Results of Operations\\n\\nThe following discussion should be read in conjunction with the\\nconsolidated financial statements.\\n\\nResults of Operations\\n\\n     The following table presents, as a percentage of sales, certain\\nselected consolidated financial data for each of the three years in\\nthe period ended December 31, 1995.\\n\\nYear ended December 31,                       1995      1994      1993\\n- -----------------------------------------------------------------------\\nSales                                        100.0%    100.0%    100.0%\\nCost of sales                                 77.0      74.9      76.4\\n                                             --------------------------\\nGross margin                                  23.0      25.1      23.6\\n                                             --------------------------\\n\\nSelling, general, and\\n administrative expense                       10.8      11.4      11.6\\nResearch and development costs                 1.8       2.1       2.3\\nPurchased in-process technology (1)            1.6\\nOther income and expense, net                   .7        .8       1.1\\n                                             --------------------------\\n                                              14.9      14.3      15.0\\n                                             --------------------------\\nIncome from consolidated companies before\\n provision for income taxes                    8.1%     10.8%      8.6%\\n                                             ==========================\\n\\n(1)  Represents impact of a $241 million non-recurring, non-tax\\n     deductible charge for purchased in-process technology in\\n     connection with acquisitions that occurred during 1995.\\n\\nSales\\n\\n     Sales for 1995 increased approximately $3.9 billion or 36% over\\nthe prior year as compared with an increase of $3.7 billion or 51% in\\n1994 from 1993.  Sales growth occurred in all regions.  North American\\nsales, which include Canada, increased 33% during 1995, compared with\\nan increase of 49% in 1994 from 1993.  International sales, excluding\\nCanada, represented 51% of total sales in 1995 as compared with 50% in\\n1994 and 49% in 1993.  European sales increased 40% during 1995\\ncompared to an increase of 41% in 1994 from 1993.  Other international\\nsales, excluding Canada, increased 37% during 1995, compared with an\\nincrease of 95% in 1994 from 1993.  The Company believes that the\\nlower rates of growth in Asia and Latin America in 1995 were related\\nto economic conditions in certain Latin American countries and a\\ngeneral tightening of the Company\\'s credit practices in Latin America\\nand Asia Pacific.\\n\\n     The personal computer industry is highly competitive and marked\\nby frequent product introductions, continual improvement in product\\nprice/performance characteristics, and a large number of competitors.\\nApproximately 75% of the Company\\'s CPU sales in 1995 were derived from\\nproducts introduced in 1995.  These new products have been designed to\\nallow the Company to achieve low product costs while maintaining the\\nquality and reliability for which the Company\\'s products have been\\nknown, thereby increasing the Company\\'s ability to compete on price\\nand value.\\n\\n     The significant increase in sales in 1995 stemmed primarily from\\nan increase in the number of units sold and an increase in sales of\\noptions associated with CPU products.  In 1995 the Company\\'s worldwide\\nunit sales increased 20% while they increased 54% in 1994.  The 1995\\nincrease included an 18% expansion in unit sales of the Company\\'s\\ncommercial desktop CPU products, a 6% decrease for the Company\\'s\\nportable CPU products, a 44% increase for the Company\\'s consumer\\ndesktop CPU products, and a 53% increase for the Company\\'s systems CPU\\nproducts.  Unit sales growth primarily resulted from the Company\\'s\\naggressively priced Compaq ProLinea line in its commercial desktop\\nproducts, the Compaq Presario line in its consumer products, and the\\nCompaq ProSignia line in its tower systems products.  The Company\\nbelieves that its 1995 sales in dollars increased more rapidly than\\nthe personal computer industry as a whole while its unit sales did not\\nincrease as much as the industry as a whole.  According to third-party\\nestimates, worldwide unit sales of personal computers increased\\napproximately 25% in 1995 in contrast to a 23% increase in 1994.\\nThird-party estimates also indicate that industry sales increased by\\napproximately 30% worldwide in 1995, compared to a 22% increase in\\n1994.\\n\\n     The Company\\'s average sales price per unit increased in 1995 from\\n1994, primarily as a result of a higher mix of option and systems\\nproducts, a generally higher mix of units using Pentium\\nmicroprocessors, and currency fluctuations.  Price competition\\ncontinues to have a significant impact on prices of the Company\\'s\\nproducts, especially those aimed at the consumer market, and\\nadditional pricing actions may occur as the Company attempts to\\nmaintain its competitive mix of price and performance characteristics.\\nThe Japanese market in particular experienced a very aggressive\\npricing environment in the fourth quarter of 1995 as certain Japanese\\ncompetitors sought to gain market share.  The Company attempts to\\nmitigate the effect of any pricing actions through implementation of\\ndesign-to-cost goals, the aggressive pursuit of reduced component\\ncosts, manufacturing efficiencies, and control of operating expenses.\\n\\nGross Margin\\n\\n     Gross margin as a percentage of sales was 23.0% in 1995, down\\nfrom 25.1% in 1994 and 23.6% in 1993.  The decrease from 1994\\nprimarily resulted from pricing actions, a rising proportion of sales\\nof the Company\\'s consumer products, a lower ratio of sales of its\\nportables products, increased competitiveness in the Japanese market,\\nand product transition costs, partially offset by a higher mix of\\noptions and systems CPU products and currency fluctuations.  The\\nCompany maintains a strategy designed to increase its market share\\nprofitably and continues to expand its presence in the price sensitive\\nconsumer market segment.  This strategy, along with the expectation of\\na continued aggressive pricing environment, particularly in Japan, and\\nscheduled product transitions, will continue to put pressure on the\\nCompany\\'s gross margins.\\n\\nOperating Expenses\\n\\n     Research and development costs increased 19% in absolute dollars\\n(to $270 million from $226 million) while declining as a percentage of\\nsales in 1995 as compared to 1994.  Because the personal computer\\nindustry is characterized by rapid product cycles and price cuts on\\nolder products, the Company believes that its long-term success is\\ndirectly related to its ability to bring new products to market on a\\ntimely basis and to reduce the costs of new and existing products.\\nAccordingly, it is committed to continuing a significant research and\\ndevelopment program and research and development costs are likely to\\nincrease in absolute dollars in 1996.\\n\\n     Selling, general, and administrative expense increased 29% in\\namount in 1995 while declining as a percentage of sales.  The decrease\\nas a percentage of sales reflects the Company\\'s ongoing efforts to\\nmanage operating expense growth relative to sales and gross margin\\nlevels.  The increase in the amount of expense resulted from domestic\\nand international selling expense associated with higher unit volumes\\nas well as expense incurred in connection with the introduction of new\\nproducts, the entry into new markets (both domestically and\\ninternationally), the expansion of distribution channels, and a\\ngreater emphasis on advertising, customer service, and technical\\nsupport.  The Company anticipates that in 1996 selling, general, and\\nadministrative expense will increase in absolute dollars as it expands\\ninto new markets, supports significant new product introductions, and\\nincreases its investment in the area of service and support,\\nespecially in support of its systems business.  The Company strives to\\nmanage total operating expenses in line with sales growth and gross\\nmargin levels.\\n\\nOther Items\\n\\n     Interest expense, net of interest and dividend income from\\ninvestment of excess funds, was $46 million, $49 million, and $43\\nmillion in 1995, 1994, and 1993, respectively.  Net interest expense\\nwas lower in 1995 when compared to 1994 primarily due to an increase\\nin interest and dividend income associated with generally higher cash\\nbalances throughout 1995, partially offset by higher interest expense\\nin connection with the Company\\'s borrowings in Latin America and\\nworldwide foreign exchange hedging program.  Net interest expense was\\nhigher for 1994 than 1993 for similar reasons.\\n\\n     The translation gains and losses relating to the financial\\nstatements of the Company\\'s international subsidiaries, net of\\noffsetting gains and losses associated with hedging activities related\\nto the net monetary assets of these subsidiaries, are included in\\nother income and expense and resulted in net losses of $33 million,\\n$46 million, and $15 million in 1995, 1994, and 1993, respectively.\\n\\n     In 1995 the Company recorded a charge associated with its\\npurchase of NetWorth, Inc. and Thomas-Conrad Corporation during the\\nfourth quarter and another small company purchased earlier in 1995.\\nThe non-recurring, non-tax deductible charge for purchased in-process\\ntechnology totaled $241 million.  In 1993 the Company recorded charges\\nassociated with its plans to withdraw from the printer business,\\nincluding costs related to certain contractual liabilities and the\\nwrite-downs of the carrying value of certain assets. The charge, net\\nof the reversal of previously recorded restructuring reserves, totaled\\n$10 million.\\n\\n     The Company\\'s effective tax rate was 34% in 1995, 26% in 1994,\\nand 25% in 1993.  The increase from 1993 to 1994 is due to a decline\\nin the ratio of Singapore earnings to total earnings  The increase\\nfrom 1994 to 1995 is attributable to the non-tax deductible charge\\nassociated with the Company\\'s acquisitions and a decline in the ratio\\nof earnings derived from the Company\\'s Singaporean manufacturing\\nsubsidiary to total earnings.  The Company anticipates that the\\nproportion of its Singaporean earnings will continue to decline in\\n1996 and, as a result, estimates that its tax rate in 1996 will be\\napproximately 30%.  The Company\\'s tax rate is heavily dependent upon\\nthe mix of earnings of its Singaporean manufacturing subsidiary due to\\nthis subsidiary\\'s earnings not being subject to taxes in Singapore\\nuntil August 2001 (with potential extension to August 2004 if certain\\ncumulative investment levels and other conditions are met) and the\\nCompany\\'s decision to invest a portion of the undistributed earnings\\nof this subsidiary indefinitely in operations outside the United\\nStates.  These earnings would become subject to U.S. tax if they were\\nactually or deemed to be remitted to the Company as dividends or if\\nthe Company should sell its stock in this subsidiary.  As a result,\\nthe Company does not provide tax on these earnings, which lowers its\\neffective tax rate.  The Company has invested $713 million of the\\nundistributed earnings of this subsidiary since 1993, and anticipates\\nthat the investment will reach $1 billion during 1996.  Should the\\nCompany choose  to discontinue its permanent reinvestment policy, the\\nCompany\\'s effective tax rate will increase at that time.\\n\\nLiquidity and Capital Resources\\n\\n     During 1995 the Company\\'s working capital increased to $3.8\\nbillion compared to $3.1 billion at December 31, 1994.\\n\\n     The Company\\'s cash, cash equivalents, and short-term investments\\nincreased to $745 million at December 31, 1995, from $471 million at\\nDecember 31, 1994, primarily because of cash received in connection\\nwith higher sales volumes and cash received in connection with the\\nexercise of employee stock options, partially offset by increases in\\ninventories and accounts receivable related to the Company\\'s support\\nof higher production and sales volumes and cash used for acquisitions.\\nAccounts receivable increased to $3.1 billion at December 31, 1995,\\nfrom $2.3 billion at December 31, 1994, primarily as a result of\\nhigher sales levels.  Inventory levels increased to $2.2 billion from\\n$2.0 billion during that period.  The increase in inventory resulted\\nfrom production planning associated with higher sales levels partially\\noffset by improvements in inventory turns.\\n\\n     Cash used in 1995 for the purchase of property, plant, and\\nequipment totaled $391 million.  The Company estimates that capital\\nexpenditures for land, buildings, and equipment during 1996 will be\\n$450 million.  The Company has commitments for only a small portion of\\nsuch amounts and the actual level of spending will depend on a variety\\nof factors, including general economic conditions and the Company\\'s\\nbusiness.  The Company from time to time may borrow funds for actual\\nor anticipated funding needs or because it is economically beneficial\\nto borrow funds for the Company\\'s needs instead of repatriating funds\\nin the form of dividends from its foreign subsidiaries.  The Company\\ncurrently expects to fund expenditures for capital requirements as\\nwell as liquidity needs created by changes in working capital from a\\ncombination of available cash balances, internally generated funds,\\nand financing arrangements.  The Company has a $250 million syndicated\\ncredit facility, which will expire in October 1996, and a $1 billion\\nsyndicated credit facility, which will expire in October 2000, both of\\nwhich were unused at December 31, 1995.  The Company has established a\\ncommercial paper program, which is supported by the syndicated credit\\nfacility.  In the U.S. and various international locations the Company\\nhas uncommitted bank lines of credit, of which $14 million was\\noutstanding at December 31, 1995. The Company believes that these\\nsources of credit provide sufficient financial flexibility to meet\\nfuture funding requirements.  The Company continually evaluates the\\nneed to establish other sources of working capital and will pursue\\nthose it considers appropriate based upon Company needs and market\\nconditions.\\n\\nFactors That May Affect Future Results\\n\\n     The Company participates in a highly volatile industry that is\\ncharacterized by fierce industry-wide competition for market share\\nresulting in aggressive pricing practices, continually changing\\ncustomer demand patterns, growing competition from well-capitalized\\nhigh technology and consumer electronics companies, and rapid\\ntechnological development carried out in the midst of legal battles\\nover intellectual property rights.  In developing strategies to\\nachieve continued increases in sales and operating profits, the\\nCompany anticipates the continued expansion of the computer market and\\nspending on information technology.  In this environment the Company\\nwill seek profitable PC market share growth while expanding its\\nproduct offerings.  The Company\\'s operating results could be adversely\\naffected should the Company be unable to anticipate customer demand\\naccurately, to maintain short design cycles while meeting evolving\\nindustry performance standards, to manage its product transitions,\\ninventory levels, and manufacturing processes efficiently, to\\ndistribute its products quickly in response to customer demand,  to\\ndifferentiate its products from those of its competitors, or to\\ncompete successfully in the markets for its new products.  In\\naccordance with the provisions of the Private Securities Litigation\\nReform Act of 1995, the cautionary statements set forth below identify\\nimportant factors that could cause actual results to differ materially\\nfrom those in the forward-looking statements contained in this report.\\n\\nCompetitive Environment.  The Company expects the PC market in 1996 to\\nexpand in line with third party research organizations\\' forecasts of\\nunit growth in the range of 17% to 20%. The Company is putting in\\nplace programs and products focused on meeting market demand and\\ngaining market share profitably.  Competition for PC market share\\nremains fierce.  Several of the Company\\'s competitors have announced\\nplans to increase their PC market shares.  Two of the Company\\'s\\ncompetitors recently merged, creating an entity whose 1995 U.S. unit\\nmarket share exceeded the Company\\'s.  A number of the Company\\'s\\nsuppliers also manufacture and market PCs or motherboards, which\\ncontain the microprocessor and other internal operating components of\\nthe PC.  In addition, a number of consumer electronics companies may\\nenter the PC market as it expands into the consumer sector as consumer\\nmodels expand multi-media features.  Each of these companies may be\\nwilling to accept lower profit margins to win market share.  In\\naddition, when the Company lowers prices on existing products or\\nannounces new products at lower price points, the Company must\\nincrease the volume of unit sales to achieve sales targets.  On March\\n1, 1996, the Company announced an update to its previous business\\noutlook.  The Company stated that it had expected seasonally slower\\nsales in January, but February sales had not met anticipated growth\\nlevels.  The Company stated that, in response to a more competitive\\nmarket environment, especially in North America, it was stepping up\\npromotional programs and taking selected price reductions to achieve\\nfirst quarter sales objectives.  The Company anticipates sales growth\\nof approximately 35% over the $3.0 billion achieved in first quarter\\n1995.  Earnings per share in the first quarter 1996 are expected to\\nexceed the $.80 per share recorded in the same period last year.  The\\nCompany expects sales and profitability to improve in the remaining\\nquarters of the year.  The Company\\'s ability to achieve targeted sales\\nand earnings levels depends upon a number of competitive and market\\nfactors and is subject to the risks set forth in this report.\\n\\nGross Margin Pressures and Operating Expenses.  In order to maintain\\nor increase its market share, the Company must continue to price its\\nproducts competitively and from time to time may use various incentive\\nprograms to increase sales.  Some of these strategies lower the\\naverage sales price per unit and may cause declines in gross margin\\nand profitability.  Other sales incentives increase operating expenses\\nand may lower profitability. To compensate for the impact of reduced\\nprices and sales incentives on its sales, gross margins, and\\nprofitability, the Company must increase unit shipments, especially of\\nits high-end systems products and options, aggressively reduce costs,\\nand maintain tight control over operating expenses.  The promotional\\nactivities and pricing actions the Company is taking in the first\\nquarter 1996 put pressure on first quarter gross margin, which is\\nlikely to be below the 21.7 percent of fourth quarter 1995.  Compaq\\nexpects gross margin to improve in the remaining quarters of the year.\\nAnd, despite quarterly fluctuations, Compaq remains focused on its\\nlong-standing gross margin model of 23 percent.  Although the\\npercentage of operating expense will vary depending upon sales, the\\nCompany is taking immediate actions to adjust its operating expenses\\nto lower levels.  The Company\\'s ability to achieve higher gross margin\\nlevels and lower operating expenses as a percentage of sales in the\\nsecond half of the year depends upon a variety of competitive and\\nmarket factors and is subject to the other risks set forth in this\\nreport.\\n\\nInventory.  In 1995 the Company continued to invest in higher levels\\nof inventory to support higher sales.  The Company anticipates that\\nits inventory turns, which increased to 5.5 in 1995 from 5.2 in 1994,\\nwill fluctuate in 1996.  The Company anticipates that inventory turns\\nwill be down in the first half of the year in comparison with fourth\\nquarter 1995 but expects inventory turns to improve in the second half\\nof 1996 as a result of increased efficiencies accompanying the\\nreengineering of certain internal processes.  In the event of a drop\\nin worldwide demand for PC products, lower than anticipated demand for\\none or more of the Company\\'s products, difficulties in managing\\nproduct transitions, or component pricing movements that affect the\\nvalue of  raw material inventory, there could be an adverse impact on\\ninventory, cash, and related profitability.  The Company faces product\\ntransitions throughout 1996, particularly in its commercial desktop\\nand systems divisions.  In each product transition cycle the Company\\nconfronts the challenge of managing the inventory of its older\\nproducts and facilitating the sale of older Compaq inventory held by\\nresellers as it increases sales of newer PCs.  The Company provides\\ncurrently for estimated product returns and price protection that may\\noccur under programs the Company has with its customers and under\\nfloor planning arrangements with third-party finance companies.  The\\nCompany and resellers in the U.S. currently hold substantial amounts\\nof inventory of certain of the Company\\'s products.  The Company\\nexpects anticipated selected pricing actions and aggressive marketing\\nprograms in the first half of 1996 to raise dealer sales of these\\nproducts, which will facilitate product transitions.  The success of\\nthis strategy depends upon a variety of competitive and market factors\\nand is subject to the other risks set forth in this report.  Should\\nthe Company be unable to sell its inventory of older products at\\nanticipated prices or if dealers hold higher than expected amounts of\\ninventory subject to price protection at the time of planned price\\nreductions, there could be a resulting adverse impact on sales, gross\\nmargins, and profitability.\\n\\nReengineering Implementation.  The Company continues to expand\\nmanufacturing and distribution capacity as well as reengineer its\\ninternal processes to support continued growth.  During 1996 the\\nCompany will continue to focus on making its business processes more\\nefficient in order to increase customer satisfaction, improve\\nproductivity, and lower costs.   In the event of a delay in\\nreengineering implementation, there could be an adverse impact on\\ninventory, cash, and related profitability. As the Company has grown\\nit has outstripped the ability of certain of its systems to support\\ncontinued expansion.  In connection with its reengineering efforts the\\nCompany is moving many of its systems from a legacy environment of\\nproprietary systems to client-server architectures.  Should the\\nCompany\\'s transition to new systems not occur in a smooth and orderly\\nmanner, the Company could experience disruptions in the operations of\\nits business, which could have an adverse financial impact.\\n\\nAlliance and Acquisition Strategy.  Because of the rapid pace of\\ntechnological advances in information technology, the Company must\\nintroduce on a timely basis new products offering competitive features\\nthat appeal to a wide variety of customers.  The Company\\'s product\\ndevelopment efforts are centered on aggressively developing new areas\\nin which the Company can differentiate its products and add value,\\nfocusing on innovative platform features, the integration of hardware\\nand software, and new related products and services, such as storage\\ndevices, toys and software titles.  Because the Company\\'s business now\\nintersects with a number of areas in which other companies have\\nsignificantly greater technological, marketing, and service expertise,\\nthe Company has focused on forming  alliances with third parties that\\nhave complementary products and skills as well as acquisitions that\\ntarget incremental business opportunities.  This philosophy extends to\\nservice alliances and in 1995 the Company expanded its internal\\nservice and support capability while naming Digital Multivendor\\nCustomer Services as the Company\\'s Global Service and Support Provider\\nfor its systems products.  The Company believes that its alliance and\\nacquisition strategies enable it to provide best-in-class solutions\\nintegrated in its platforms while expanding its offerings of\\ncomplementary products.  Each of these approaches, however, carries\\nsignificant risks.  In its acquisition activities the Company\\nconfronts significant challenges in retaining key employees and\\nreconciling diverse corporate cultures, synchronizing product roadmaps\\nand business processes, and integrating logistics, marketing, product\\ndevelopment, and manufacturing operations to achieve greater\\nefficiencies.  If the Company is unable to complete the transition\\nphase with respect to its 1995 acquisitions as anticipated, the\\nexpansion of its market in the internetworking arena could be delayed.\\nIn developing business plans based on an alliance model, the Company\\nmust rely on the performance of third parties, many of whom may\\ncompete with the Company in other parts of their businesses.  In\\naddition, particularly in attempting to expand its systems business\\ninto enterprise computing through an alliance model, the Company\\ncompetes against businesses that are vertically integrated and offer\\ncustomers the convenience of dealing with only one vendor for their\\nenterprise-wide systems.  Customers\\' willingness to adopt the\\nCompany\\'s more cost-effective solution will depend upon the reputation\\nfor reliability that it and its business allies earn in this area.\\n\\nTechnology Standards.  Participants in the PC industry generally rely\\non the creation and implementation of technology standards to win the\\nbroadest market acceptance for their products.  The Company must\\nsuccessfully manage and participate in the development of standards\\nwhile continuing to differentiate its products in a manner valued by\\ncustomers.  While industry participants generally accept, and may\\nencourage, the use of their intellectual property by third parties\\nunder license, when intellectual property owned by competitors or\\nsuppliers becomes accepted as an industry standard, the Company must\\nobtain a license, purchase components utilizing such technology from\\nthe owners of such technology or their licensees, or otherwise acquire\\nrights to use such technology, which could result in increased Company\\ncosts.  In addition, delays in access to technology developed by\\ncompetitors and suppliers could slow the Company\\'s design and\\nmanufacture of components and subsystems that distinguish its\\nproducts.\\n\\nSupplier Issues.  In managing production levels, product transitions,\\nand developments in microprocessor and other component technology, the\\nCompany must develop and implement effective strategies that\\nanticipate availability and pricing by suppliers as well as forecast\\ncustomer demand for its products.  The Company attempts to select\\nsuppliers that can provide sufficient and timely supplies of high\\nquality material.  There can be no assurance, however, that the\\nCompany will acquire sufficient supplies of components, including\\nmicroprocessors, to deliver its products in volume in response to\\nshifts in customer demand.  Order lead times and cancellation\\nrequirements vary by supplier and component.  Should the Company\\nunderestimate the component supplies needed to meet demand, the\\nCompany could be unable to meet customer demand.  Should the Company\\noverestimate the component supplies needed to meet customer demand,\\nthe Company\\'s cash and profitability could be adversely affected. Many\\nof the components used in the Company\\'s products, particularly\\nmicroprocessors, experience steep price declines over their product\\nlives.  If the Company is unable to manage its purchases and\\nutilization of such components efficiently to maintain low inventory\\nlevels immediately prior to major price declines, the Company could be\\nunable to take immediate advantage of such declines to lower its\\nproduct costs, which could adversely affect the Company\\'s sales and\\ngross margins.  In planning product transitions the Company evaluates\\nthe speed at which customers are likely to switch to newer products.\\nThe contrast between the prices of old and new products, which is\\nrelated to component costs, is a critical variable in predicting\\ncustomer decisions to move to the next generation of products.\\nProduct transitions may occur more quickly or more slowly than\\nanticipated based on pricing decisions by industry component\\nsuppliers, particularly microprocessor prices set by Intel\\nCorporation.  Because of the lead times associated with the Company\\'s\\nvolume production, should the Company be unable to predict the rate of\\na product transition accurately, the Company\\'s inventory levels, cash\\nand profitability could be negatively affected.  In addition, certain\\nof the Company\\'s products are manufactured by third party original\\nequipment manufacturers, which could fail to respond in a timely\\nmanner to the Company\\'s purchase orders or could fail to meet the\\nCompany\\'s quality standards.  The Company attempts to maintain tight\\ncontrol over production by third party original equipment\\nmanufacturers to ensure that these products comply with its standards\\nand schedule.\\n\\nIntellectual Property Infringement.  Because of rapid technological\\nchanges in the computer industry, extensive patent and copyright\\ncoverage, and the rapid establishment of new copyright and patent\\nrights, certain components of the Company\\'s products designed by the\\nCompany or purchased from third parties may unknowingly infringe\\nintellectual property rights of others.  The Company believes, based\\nin part on industry practices, that if any infringements do exist, the\\nCompany will be able to modify its products to avoid infringement,\\nobtain components that do not infringe, or obtain licenses or rights\\nto such intellectual property on terms not having a material adverse\\neffect on the Company. There can be no assurance, however, that the\\nCompany will be able to ensure that component supplies and the cost of\\ncomponents are not adversely affected by legal proceedings in which an\\nadverse determination is made with respect to intellectual property\\nrights of the Company or one of its suppliers.  To minimize the impact\\nof intellectual property claims by third parties, the Company pursues\\nan active patent portfolio development plan.\\n\\nProduct Distribution.  During 1995 the Company continued to broaden\\nits product distribution.  Offering its products in an increasing\\nnumber of geographic locations and through a variety of distribution\\nchannels, including dealers, distributors, value-added resellers, mass\\nmerchandise stores, consumer electronic outlets, computer\\nsuperstores, and mail order, requires the Company to increase its\\ngeographic presence and to provide increased levels of sales and\\nsupport interface with customers.  There can be no assurance, however,\\nthat the requisite service and support to ensure the success of the\\nCompany\\'s operations in new locations or through new channels can be\\nachieved in a cost effective manner, particularly with respect to the\\nlevels of service and support desired by customers to support systems\\nproducts in enterprise-wide computing solutions.  While the Company\\nanticipates that its geographic expansion will continue and the number\\nof outlets for its products will continue to increase in 1996, a\\nreduction in the pace of this growth could affect sales and\\nprofitability.  Geographic expansion, particularly the expansion of\\nmanufacturing operations in developing countries, such as Brazil and\\nChina, and the expansion of sales into economically and politically\\nvolatile areas such as China, Hong Kong, Latin America, and Eastern\\nEurope, subject the Company to a number of economic and other risks,\\nsuch as currency devaluation, expropriation, and financial instability\\namong resellers in these regions.  The Company continues to evaluate\\nits business operations in these regions and attempts to take\\nmeasures to limit its risks in these areas.\\n\\nCredit Risks.  The Company\\'s primary means of distribution remains\\nthird-party resellers.  The Company continuously monitors and manages\\nthe credit it extends to resellers and attempts to limit credit risks\\nby broadening its distribution channels, utilizing certain risk\\ntransfer instruments, and obtaining security interests in property\\nowned by its debtors.  The Company\\'s business could be adversely\\naffected in the event that the financial condition of third-party\\ncomputer resellers worsens.  Upon the financial failure of a major\\nreseller, the Company could experience disruptions in its distribution\\nas well as the loss of the unsecured portion of any outstanding\\naccounts receivable.  The Company generally has experienced longer\\naccounts receivable cycles in its emerging markets, in particular\\nChina and Latin America, when compared to its U.S. and European\\nmarkets.  In the event that accounts receivable cycles in these\\ndeveloping markets lengthen further or one or more of the Company\\'s\\nlarger resellers in these regions fail, the Company could be adversely\\naffected.\\n\\nForecasting Issues.  Because of the pace of technological advances in\\nthe computer industry, the Company must introduce on a timely basis\\nnew products that offer customers competitive technologies while\\nmanaging the production and marketing cycles of its existing products.\\nForecasting demand for newly-introduced products is complicated by the\\navailability of different product models, which may include various\\ntypes of built-in peripherals and software, and the configuration\\nrequirements, such as language localization, in certain markets.  As a\\nresult, while overall demand may be in line with the Company\\'s\\nprojections and manufacturing implementation, local market variations\\ncan lead to differences between expected and actual demand and\\nresulting delays in shipment, which can affect the Company\\'s financial\\nresults.\\n\\nCurrency and Hedging Risks.  The value of the U.S. dollar continues to\\naffect the Company\\'s financial results.  The functional currency for\\nthe Company\\'s international subsidiaries is the U.S. dollar.  When the\\nU.S. dollar strengthens against other currencies, sales made in those\\ncurrencies translate into lower sales in U.S. dollars; and when the\\nU.S. dollar weakens, sales made in local currencies translate into\\nhigher sales in U.S. dollars.  Correspondingly, costs and expenses\\nincurred in non-U.S. dollar currencies increase when the U.S. dollar\\nweakens and decline when the U.S. dollar strengthens.  Accordingly,\\nchanges in exchange rates may positively or negatively affect the\\nCompany\\'s sales (as expressed in U.S. dollars), gross margins, and\\noperating expenses, and the Company\\'s results of operations can be\\nsignificantly affected in the short term by fluctuations in foreign\\ncurrency exchange rates.  The Company engages in hedging programs\\naimed at limiting in part the impact of currency fluctuations.\\nThrough these programs the Company hedges its non-U.S. dollar net\\nmonetary assets and its Japanese yen denominated purchase commitments\\nprimarily through the use of forward exchange and option contracts.\\nFor certain of its markets, particularly Latin America, the Company\\nhas determined that ongoing hedging of its non-U.S. dollar net\\nmonetary assets is not cost effective and instead attempts to minimize\\ncurrency exposure risk through working capital management.  There can\\nbe no assurance that such an approach will be successful, especially\\nin the event of a significant and sudden decline in the value of local\\ncurrencies.  From time to time the Company purchases foreign currency\\noption contracts as well as short-term forward exchange contracts to\\nprotect against currency exchange risks associated with the\\nanticipated sales of its international marketing subsidiaries,\\nprincipally in Europe and Japan.  These instruments provide only\\nlimited protection against currency exchange risks.  The Company\\nvaries the percentage of anticipated sales that it attempts to protect\\nagainst currency exchange risks based upon its judgment of currency\\nmarkets and the costs of these instruments, and in some markets,\\nparticularly in developing areas, the Company\\'s ability to utilize\\nsuch instruments is limited.  If the Company overestimates the hedging\\namount needed to protect anticipated sales during a period in which\\nthe dollar weakens or yen-denominated purchase commitments during a\\nperiod when the dollar strengthens, the Company could incur expense\\nthat would not be balanced by the impact of exchange rate movements on\\nits sales and purchase commitments.  All currency contracts that are\\nentered into by the Company are components of its hedging programs and\\nare entered into for the sole purpose of hedging an existing or\\nanticipated currency exposure, not for speculation.  Although the\\nCompany maintains these programs to reduce the impact of changes in\\ncurrency exchange rates, when the U.S. dollar sustains a strengthening\\nposition against currencies in which the Company sells its products or\\na weakening exchange rate against currencies in which the Company\\nincurs costs, particularly the Japanese yen, the Company\\'s sales or\\nits costs are adversely affected.\\n\\nTax Rate.  The Company\\'s tax rate is heavily dependent upon the\\nproportion of earnings that are derived from its Singaporean\\nmanufacturing subsidiary and its ability to reinvest those earnings\\npermanently outside the U.S.  If the earnings of this subsidiary as a\\npercentage of the Company\\'s total earnings were to decline, or should\\nthe Company\\'s ability to reinvest these earnings be reduced, the\\nCompany\\'s tax rate would  increase beyond the estimated 30%.  In\\naddition, should the Company\\'s intercompany transfer pricing with\\nrespect to its Singaporean manufacturing subsidiary require\\nsignificant adjustment due to audits or regulatory changes, the\\nCompany\\'s overall tax rate could increase.\\n\\nSeasonality.  General economic conditions have an impact on the\\nCompany\\'s business and financial results.  From time to time the\\nmarkets in which the Company sells its products experience weak\\neconomic conditions that may negatively affect sales of the Company\\'s\\nproducts.  Although the Company does not consider its business to be\\nhighly seasonal, it has experienced seasonally higher sales and\\nearnings in the fourth quarter of the year.  The continued expansion\\nof its retail business is likely to result in the increased\\nseasonality of the Company\\'s business, particularly in the fourth\\nquarter of the year, and its financial results being more dependent on\\nretail business fluctuations.\\n\\nFacilities.  Certain of the Company\\'s facilities, including its\\nEuropean distribution center in Gorinchem, The Netherlands, and\\ncritical suppliers are located in areas that are at risk for natural\\ndisasters such as floods, tornadoes, hurricanes and earthquakes.\\nWhile the Company attempts to minimize the potential for loss through\\npreventative planning and insurance risk transfer products, such\\nnatural disasters could negatively affect the Company\\'s sales,\\nprofitability, and cash flow.\\n\\n     Because of the foregoing factors, as well as other variables\\naffecting the Company\\'s operating results, past financial performance\\nshould not be considered a reliable indicator of future performance,\\nand investors should not use historical trends to anticipate results\\nor trends in future periods.  In addition, the Company\\'s participation\\nin a highly dynamic industry often results in significant volatility\\nof the Company\\'s common stock price.\\n\\nItem 8.  Financial Statements and Supplementary Data\\n\\n     Index to Consolidated Financial Statements\\n\\n     Financial Statements:\\n      Report of Independent Accountants\\n      Consolidated Balance Sheet at December 31, 1995 and 1994\\n      Consolidated Statement of Income for the three years ended\\n       December 31, 1995\\n      Consolidated Statement of Cash Flows for the three years ended\\n       December 31, 1995\\n      Consolidated Statement of Stockholders\\' Equity for the three\\n       years ended December 31, 1995\\n      Notes to Consolidated Financial Statements\\n\\n     Financial Statement Schedules:\\n      For the three years ended December 31, 1995:\\n       Schedule VIII - Valuation and Qualifying Accounts\\n\\nItem 9.  Disagreements on Accounting and Financial Disclosure\\n\\n     None.\\n\\n\\nREPORT OF INDEPENDENT ACCOUNTANTS\\n\\nTo the Stockholders and Board of Directors of\\nCompaq Computer Corporation\\n\\nIn our opinion, the consolidated financial statements listed in the\\naccompanying index present fairly, in all material respects, the\\nfinancial position of Compaq Computer Corporation and its subsidiaries\\nat December 31, 1995 and 1994, and the results of their operations and\\ntheir cash flows for each of the three years in the period ended\\nDecember 31, 1995, in conformity with generally accepted accounting\\nprinciples. These financial statements are the responsibility of the\\nCompany\\'s management; our responsibility is to express an opinion on\\nthese financial statements based on our audits. We conducted our\\naudits of these statements in accordance with generally accepted\\nauditing standards which require that we plan and perform the audit to\\nobtain reasonable assurance about whether the financial statements are\\nfree of material misstatement. An audit includes examining, on a test\\nbasis, evidence supporting the amounts and disclosures in the\\nfinancial statements, assessing the accounting principles used and\\nsignificant estimates made by management, and evaluating the overall\\nfinancial statement presentation. We believe that our audits provide a\\nreasonable basis for the opinion expressed above.\\n\\nPRICE WATERHOUSE LLP\\n\\nHouston, Texas\\nJanuary 23, 1996\\n\\n\\n                     COMPAQ COMPUTER CORPORATION\\n                      CONSOLIDATED BALANCE SHEET\\n\\nDecember 31,\\nDollars in millions, except par value                   1995     1994\\n- ----------------------------------------------------------------------\\nASSETS\\nCurrent assets:\\n Cash and cash equivalents                             $  745   $  471\\n Accounts receivable, less allowance of $100 and $75    3,141    2,287\\n Inventories                                            2,156    2,005\\n Deferred income taxes                                    365      303\\n Prepaid expenses and other current assets                120       92\\n                                                       ---------------\\n  Total current assets                                  6,527    5,158\\n                                                       ---------------\\nProperty, plant, and equipment,\\n less accumulated depreciation                          1,110      944\\nOther assets                                              181       64\\n                                                       ---------------\\n                                                       $7,818   $6,166\\n                                                       ===============\\n\\nLIABILITIES AND STOCKHOLDERS\\' EQUITY\\nCurrent liabilities:\\n Accounts payable                                      $1,379   $  888\\n Income taxes payable                                     190      246\\n Other current liabilities                              1,111      879\\n                                                       ---------------\\n  Total current liabilities                             2,680    2,013\\n                                                       ---------------\\nLong-term debt                                            300      300\\n                                                       ---------------\\nDeferred income taxes                                     224      179\\n                                                       ---------------\\nCommitments and contingencies\\nStockholders\\' equity:-\\n Preferred stock, $.01 par value\\n (authorized: 10 million shares; issued: none)\\n Common stock and capital in excess of $.01 par value\\n  (authorized: 1 billion shares; issued and outstanding:\\n  267.1 million shares at December 31, 1995 and\\n  261.0 million shares at December 31, 1994)              890      739\\n Retained earnings                                      3,724    2,935\\n                                                       ---------------\\n    Total stockholders\\' equity                          4,614    3,674\\n                                                       ---------------\\n                                                       $7,818   $6,166\\n                                                       ===============\\n\\nThe accompanying notes are an integral part of these financial statements.\\n\\n\\n                         COMPAQ COMPUTER CORPORATION\\n                      CONSOLIDATED STATEMENT OF INCOME\\n\\n\\nYear ended December 31,\\nIn millions, except per share amounts      1995         1994         1993\\n- ---------------------------------------------------------------------------\\nSales                                   $ 14,755     $ 10,866     $  7,191\\nCost of sales                             11,367        8,139        5,493\\n                                        -----------------------------------\\n                                           3,388        2,727        1,698\\n                                        -----------------------------------\\n\\nSelling, general, and\\n  administrative expense                   1,594        1,235          837\\nResearch and development costs               270          226          169\\nPurchased in-process technology              241\\nOther income and expense, net                 95           94           76\\n                                        -----------------------------------\\n                                           2,200        1,555        1,082\\n                                        -----------------------------------\\nIncome before provision for income taxes   1,188        1,172          616\\nProvision for income taxes                   399          305          154\\n                                        -----------------------------------\\nNet income                              $    789     $    867     $    462\\n                                        ===================================\\n\\nEarnings per common and common\\n  equivalent share:\\n    Primary                             $   2.88     $   3.23     $   1.82\\n                                        ===================================\\n    Assuming full dilution              $   2.87     $   3.21     $   1.78\\n                                        ===================================\\n\\nShares used in computing earnings per\\n  common and common equivalent share:\\n    Primary                                273.6        268.6        254.1\\n                                        ===================================\\n    Assuming full dilution                 275.0        270.1        258.9\\n                                        ===================================\\n\\nThe accompanying notes are an integral part of these financial statements.\\n\\n\\n                          COMPAQ COMPUTER CORPORATION\\n                     CONSOLIDATED STATEMENT OF CASH FLOWS\\n\\n\\nYear ended December 31,\\nIn millions                                      1995       1994       1993\\n- ------------------------------------------------------------------------------\\nCash flows from operating activities:\\n  Cash received from customers                $  13,910  $   9,986  $   6,731\\n  Cash paid to suppliers and employees          (12,437)    (9,778)    (6,331)\\n  Interest and dividends received                    53         22         20\\n  Interest paid                                    (100)       (65)       (64)\\n  Income taxes paid                                (483)      (266)      (116)\\n                                              --------------------------------\\n    Net cash provided by (used in)\\n      operating activities                          943       (101)       240\\n                                              --------------------------------\\nCash flows from investing activities:\\n  Purchases of property, plant,\\n    and equipment, net                             (391)      (357)      (145)\\n  Acquisition of businesses,                       (318)\\n    net of cash acquired\\n  Other, net                                          6        (51)\\n                                              --------------------------------\\n    Net cash used in\\n      investing activities                         (703)      (408)      (145)\\n                                              --------------------------------\\nCash flows from financing activities:\\n  Issuance of common stock pursuant\\n   to stock option plans                             79        100        142\\n  Issuance of long-term debt                                   300\\n                                              --------------------------------\\n    Net cash provided by\\n      financing activities                           79        400        142\\n                                              --------------------------------\\nEffect of exchange rate changes on cash             (45)       (47)        33\\n                                              --------------------------------\\n    Net increase (decrease) in cash and\\n      cash equivalents                              274       (156)       270\\nCash and cash equivalents at beginning of year      471        627        357\\n                                              --------------------------------\\nCash and cash equivalents at end of year      $     745  $     471  $     627\\n                                              ================================\\n\\nReconciliation of net income to net cash\\n  provided by (used in) operating activities:\\n  Net income                                  $     789  $     867  $     462\\n    Depreciation and amortization                   214        169        156\\n    Tax benefit associated with stock options        60         53         44\\n    Provision for bad debts                          43         36         33\\n    Purchased in-process technology                 241\\n    Deferred income taxes                           (17)      (184)       (38)\\n    Loss on disposal of assets                        2          2          2\\n    Exchange rate effect                             33         46         15\\n    Increase in accounts receivable                (863)      (926)      (484)\\n    Increase in inventories                        (135)      (882)      (289)\\n    Decrease (increase) in prepaid expenses and\\n      other current assets                          (41)       (55)        24\\n    Increase in accounts payable                    479        248        125\\n    Increase (decrease) in income taxes payable     (61)       173         34\\n    Increase in other current liabilities           199        352        156\\n                                              --------------------------------\\n      Net cash provided by (used in)\\n       operating activities                   $     943  $    (101) $     240\\n                                              ================================\\n\\nSupplemental Cash Flow Information\\n\\nYear ended December 31,\\nIn millions                                      1995\\n- ------------------------------------------------------\\nAcquisitions (Note 2)\\n  Fair value of assets acquired               $   432\\n  Liabilities assumed                             (69)\\n  Stock issued                                    (12)\\n  Options assumed                                 (14)\\n                                               -------\\n  Cash paid                                       337\\nLess: cash acquired                               (19)\\n                                               -------\\nNet cash paid for acquisitions                 $  318\\n                                               =======\\n\\nThe accompanying notes are an integral part of these financial statements.\\n\\n\\n                         COMPAQ COMPUTER CORPORATION\\n                CONSOLIDATED STATEMENT OF STOCKHOLDERS\\' EQUITY\\n\\n\\n                                         Common stock\\n                                     --------------------\\n                                               Par value\\n                                      Number  and capital\\nIn millions,                            of     in excess   Retained\\nexcept number of shares in thousands  shares     of par    earnings   Total\\n- -----------------------------------------------------------------------------\\nBalance, December 31, 1992           239,490  $   400     $  1,606  $  2,006\\nIssuance pursuant to stock\\n  option plans                        13,553      142                    142\\nTax benefit associated with\\n  stock options                                    44                     44\\nNet income                                                     462       462\\n                                     ----------------------------------------\\nBalance, December 31, 1993           253,043      586        2,068     2,654\\nIssuance pursuant to stock\\n  option plans                         7,994      100                    100\\nTax benefit associated with\\n  stock options                                    53                     53\\nNet income                                                     867       867\\n                                     ----------------------------------------\\nBalance, December 31, 1994           261,037      739        2,935     3,674\\nIssuance pursuant to stock\\n  option plans                         5,792       79                     79\\nIssuance pursuant to\\n  business acquired                      241       12                     12\\nTax benefit associated with\\n  stock options                                    60                     60\\nNet income                                                     789       789\\n                                     ----------------------------------------\\nBalance, December 31, 1995           267,070  $   890     $  3,724  $  4,614\\n                                     ========================================\\n\\nThe accompanying notes are an integral part of these financial statements.\\n\\n\\n                         COMPAQ COMPUTER CORPORATION\\n                 NOTES TO CONSOLIDATED FINANCIAL STATEMENTS\\n\\nNote 1 - Description of Business and Significant Accounting Policies:\\n\\nDescription of business - Compaq Computer Corporation designs,\\ndevelops, manufactures, and markets a wide range of personal computing\\nproducts, including desktop personal computers, portable computers,\\ntower PC servers and peripheral products that store and manage data\\nin network environments. The Company markets its products primarily to\\nbusiness, home, government, and education customers. The Company\\noperates in one principal industry segment across geographically\\ndiverse markets.\\n\\nPrinciples of consolidation - The consolidated financial statements\\ninclude the accounts of Compaq Computer Corporation and its\\nsubsidiaries. All significant intercompany transactions have been\\neliminated.\\n\\nEstimates - The preparation of financial statements in conformity with\\ngenerally accepted accounting principles requires management to make\\nestimates and assumptions that affect the reported amounts of certain\\nassets and liabilities and disclosure of contingent assets and\\nliabilities at the date of the financial statements and the related\\nreported amounts of sales and expenses during the reporting period.\\nActual results could differ from those estimates. Management believes\\nthat the estimates are reasonable.\\n\\nCash and cash equivalents - Cash and cash equivalents include cash on\\nhand, amounts due from banks, money market instruments, commercial\\npaper, and other investments having maturities of three months or less\\nat date of acquisition and are reflected as such for purposes of\\nreporting cash flows and are stated at cost which approximates fair\\nvalue.\\n\\nInventories - Inventories are stated at the lower of cost or market,\\ncost being determined on a first-in, first-out basis.\\n\\nProperty, plant, and equipment - Property, plant, and equipment are\\nstated at cost. Major renewals and improvements are capitalized; minor\\nreplacements, maintenance, and repairs are charged to current\\noperations. Depreciation is computed by applying the straight-line\\nmethod over the estimated useful lives of the related assets, which\\nare 30 years for buildings and range from three to ten years for\\nequipment. Leasehold improvements are amortized over the shorter of\\nthe useful life of the improvement or the life of the related lease.\\n\\nPurchased technology, other intangible assets, and goodwill -\\nPurchased technology, other intangible assets including licenses and\\ntrademarks, and goodwill are carried at cost less accumulated\\namortization, which is being provided on a straight-line basis over\\nthe economic lives of the respective assets, generally three to seven\\nyears.\\n\\nSales recognition - The Company recognizes sales at the time products\\nare shipped to its customers. Provision is made currently for\\nestimated product returns and price protection which may occur under\\nprograms the Company has with its customers and under floor planning\\narrangements with third-party finance companies.\\n\\nPost sales support and warranty expense - The Company provides\\ncurrently for the estimated cost that may be incurred for post sales\\nsupport and product warranties.\\n\\nAdvertising costs - Advertising costs are charged to operations when\\nincurred. The cost of direct-response advertising is not significant.\\nAdvertising expenses for 1995, 1994, and 1993 were $201 million, $193\\nmillion, and $114 million, respectively.\\n\\nForeign currency - The Company uses the U.S. dollar as its functional\\ncurrency. Financial statements of the Company\\'s foreign subsidiaries\\nare translated to U.S. dollars for consolidation purposes using\\ncurrent rates of exchange for monetary assets and liabilities and\\nhistorical rates of exchange for nonmonetary assets and related\\nelements of expense. Sales and other expense elements are translated\\nat rates that approximate the rates in effect on the transaction\\ndates. Gains and losses from this process are included in the\\nCompany\\'s consolidated statement of income.\\n\\nThe Company hedges certain portions of its foreign currency exposure\\nprimarily through the use of forward contracts and option contracts.\\nGenerally, gains and losses associated with currency rate changes on\\nforward contracts are recorded currently, while the interest element\\nis recognized over the life of each contract. However, to the extent\\nsuch contracts hedge a commitment for capital expenditures or\\ninventory purchases, no gains or losses are recognized, and the rate\\nat the time the hedge is made is, effectively, the rate used to\\ndetermine the U.S. dollar value of the asset when it is recorded.\\n\\nFrom time to time the Company hedges a portion of its anticipated but\\nnot firmly committed sales of its international marketing subsidiaries\\nusing purchased foreign currency options. Realized and unrealized\\ngains and the net premiums on these options are deferred and\\nrecognized as a component of sales in the same period that the related\\nsales occur. In addition, at times the Company utilizes forward\\ncontracts to protect the Company from the effects of currency\\nfluctuations on anticipated but not firmly committed sales which are\\nexpected to occur within a three-month period. These forward contracts\\ndo not extend beyond the end of any quarter or year.\\n\\nIncome taxes - The provision for income taxes is computed based on the\\npretax income included in the consolidated statement of income.\\nResearch and development tax credits are recorded to the extent\\nallowable as a reduction of the provision for federal income taxes in\\nthe year the qualified research and development expenditures are\\nincurred. The asset and liability approach is used to recognize\\ndeferred tax liabilities and assets for the expected future tax\\nconsequences of temporary differences between the carrying amounts and\\nthe tax bases of assets and liabilities.\\n\\nEarnings per share - Primary earnings per common and common equivalent\\nshare and earnings per common and common equivalent share assuming\\nfull dilution are computed using the weighted average number of shares\\noutstanding adjusted for the incremental shares attributed to\\noutstanding options to purchase common stock.\\n\\nStock-based compensation - The Company has not elected early adoption\\nof Financial Accounting Standard No. 123 (FAS 123), Accounting for\\nStock-Based Compensation. FAS 123 becomes effective beginning with the\\nCompany\\'s first quarter of 1996, and will not have a material effect\\non the Company\\'s consolidated financial position or operating results.\\nUpon adoption of FAS 123, the Company will continue to measure\\ncompensation expense for its stock-based employee compensation plans\\nusing the intrinsic value method prescribed by APB Opinion No. 25,\\nAccounting for Stock Issued to Employees, and will provide pro forma\\ndisclosures of net income and earnings per share as if the fair value-\\nbased method prescribed by FAS 123 had been applied in measuring\\ncompensation expense.\\n\\nOther recent pronouncements - In 1995 Financial Accounting Standards\\nNo. 121 (FAS 121), Accounting for the Impairment of Long-Lived Assets\\nand for Long-Lived Assets to Be Disposed Of, was issued and is\\neffective for fiscal years commencing after December 15, 1995. The\\nfuture adoption of FAS 121 is not expected to have a material effect\\non the Company\\'s consolidated financial position or operating results.\\n\\nReclassifications - Certain amounts have been reclassified to conform\\nto the 1995 presentation.\\n\\nNote 2 - Acquisitions:\\n\\nDuring the fourth quarter of 1995 the Company acquired all of the\\noutstanding shares of NetWorth, Inc., a publicly-held developer,\\nmanufacturer, and supplier of fast ethernet hubs, switches, and\\nrelated products, and Thomas-Conrad Corporation, a privately-held\\nmaker of network interface cards and hubs. In addition, during 1995\\nthe Company acquired a small software company. The aggregate purchase\\nprice of $386 million consisted of $359 million in cash of which\\n$22 million was paid subsequent to year end, assumption of\\ncertain stock options and the issuance of 240,622 shares of common\\nstock of the Company.\\n\\nThe acquisitions were accounted for as purchases and, accordingly, the\\noperating results of the acquired businesses and the estimated fair\\nmarket values of the acquired assets and liabilities were included in\\nthe Company\\'s consolidated financial statements from the dates of\\nacquisition. The aggregate purchase price plus $5 million of costs\\ndirectly attributable to the completion of the acquisitions, has been\\nallocated to the assets and liabilities acquired. The aggregate\\npurchase price included $241 million which represented the value of in-\\nprocess technology that had not yet reached technological feasibility\\nand had no alternative future use. This amount was expensed in the\\nCompany\\'s consolidated statement of income during the fourth quarter\\nof 1995. In addition, the aggregate purchase price included $126\\nmillion representing purchased technology, other identifiable\\nintangibles and goodwill. These assets are included in other assets at\\nDecember 31, 1995.\\n\\nThe following summary, prepared on a pro forma basis, combines the\\noperating results as if the companies had been acquired as of the\\nbeginning of the periods presented. The summary includes the impact of\\ncertain adjustments such as goodwill amortization and estimated\\nchanges in interest income due to cash outlays associated with the\\ntransactions and the related income tax effects:\\n\\nYear ended December 31,                                 (unaudited)\\nIn millions, except per share amounts                1995         1994\\n- ------------------------------------------------------------------------\\nSales                                             $ 14,849     $ 10,978\\nNet income                                             992          837\\nNet income per share                                  3.61         3.10\\n\\nThe pro forma results are not necessarily indicative of what actually\\nwould have occurred if the acquisitions had been in effect for the\\nperiods presented. In addition, they are not intended to be a forecast\\nof future results and do not reflect any synergies that might be\\nachieved from the combined operations.\\n\\nNote 3 - Inventories:\\n\\nInventories consisted of the following components:\\n\\nDecember 31,\\nIn millions                                          1995         1994\\n- ------------------------------------------------------------------------\\nRaw material                                      $    772     $  1,013\\nWork-in-process                                        271          266\\nFinished goods                                       1,113          726\\n                                                  ----------------------\\n                                                  $  2,156     $  2,005\\n                                                  ======================\\n\\nNote 4 - Property, Plant, and Equipment:\\n\\nProperty, plant, and equipment are summarized below:\\n\\nDecember 31,\\nIn millions                                          1995         1994\\n- ------------------------------------------------------------------------\\nLand                                              $     72     $     71\\nBuildings                                              565          556\\nMachinery and equipment                              1,067          878\\nFurniture and fixtures                                  78           61\\nLeasehold improvements                                  57           35\\nConstruction-in-progress                               142           71\\n                                                  ----------------------\\n                                                     1,981        1,672\\nLess-accumulated depreciation                          871          728\\n                                                  ----------------------\\n                                                  $  1,110     $    944\\n                                                  ======================\\n\\nInterest aggregating $7 million and $3 million was capitalized and\\nadded to the cost of the Company\\'s property, plant, and equipment in\\n1995 and 1994, respectively. No interest was capitalized during 1993.\\n\\nDepreciation expense totaled $214 million, $168 million, and $155\\nmillion in 1995, 1994, and 1993, respectively.\\n\\nNote 5 - Other Current Liabilities:\\n\\nThe estimated costs which may be incurred for post sales support and\\nproduct warranties of $347 million and $306 million were included in\\nother current liabilities at December 31, 1995 and 1994, respectively.\\n\\nNote 6 - Credit Agreements and Financing Arrangements:\\n\\nIn October 1995 the Company entered into agreements for a $1.25\\nbillion syndicated credit facility (of which $250 million expires in\\nOctober 1996 and $1 billion expires in October 2000) which remains\\nunused at December 31, 1995. The Company has a $750 million commercial\\npaper program, which is supported by the $1.0 billion portion of the\\nsyndicated credit facility. No commercial paper was outstanding at\\nDecember 31, 1995. The commercial paper program and various\\nuncommitted bank lines of credit were used during 1995, with usage\\nlevels ranging from a high of $280 million to $14 million at December\\n31, 1995.\\n\\nIn March 1994 the Company issued $300 million in senior notes,\\nincluding $150 million 6 1/2% notes due March 15, 1999 and $150\\nmillion 7 1/4% notes due March 15, 2004. Interest on the notes is\\npayable semiannually on March 15 and September 15 of each year. The\\nnotes are not redeemable prior to maturity and are not entitled to any\\nsinking fund.\\n\\nNote 7 - Other Income and Expense:\\n\\nOther income and expense consisted of the following components:\\n\\nYear ended December 31,\\nIn millions                                         1995      1994      1993\\n- -----------------------------------------------------------------------------\\nInterest and dividend income                      $  (53)   $  (22)   $  (20)\\nInterest expense associated with hedging              18         9        22\\nOther interest expense                                81        62        41\\nCurrency losses, net                                  33        46        15\\nRestructuring charges and other asset write-downs                         12\\nOther, net                                            16        (1)        6\\n                                                  ---------------------------\\n                                                  $   95    $   94    $   76\\n                                                  ===========================\\n\\nIn the fourth quarter of 1993 the Company recorded charges associated\\nwith its plans to withdraw from the printer business, including costs\\nrelated to certain contractual liabilities and the write-downs of the\\ncarrying value of certain assets. The charge, net of the reversal of\\npreviously recorded restructuring reserves, totaled $10 million. No\\nreserves related to these restructurings remained at December 31, 1995\\nand 1994.\\n\\nNote 8 - Provision for Income Taxes:\\n\\nThe components of income before provision for income taxes were as\\nfollows:\\n\\nYear ended December 31,\\nIn millions                                   1995      1994      1993\\n- -----------------------------------------------------------------------\\nDomestic                                    $  500    $  566    $  284\\nForeign                                        688       606       332\\n                                            ---------------------------\\n                                            $1,188    $1,172    $  616\\n                                            ===========================\\n\\nThe provision for income taxes charged to operations was as follows:\\n\\nYear ended December 31,\\nIn millions                                   1995      1994      1993\\n- -----------------------------------------------------------------------\\nCurrent tax expense\\n  U.S. federal                              $  274    $  303    $  130\\n  State and local                               11         7         4\\n  Foreign                                      142       134        58\\n                                            ---------------------------\\n    Total current                              427       444       192\\n                                            ---------------------------\\nDeferred tax expense\\n  U.S. federal                                  (8)     (114)      (18)\\n  State and local                               (2)       (6)\\n  Foreign                                      (18)      (19)      (20)\\n                                            ---------------------------\\n    Total deferred                             (28)     (139)      (38)\\n                                            ---------------------------\\n    Total provision                         $  399    $  305    $  154\\n                                            ===========================\\n\\nTotal income tax expense for 1995, 1994, and 1993 resulted in\\neffective tax rates of 34%, 26%, and 25%, respectively. The reasons\\nfor the differences between these effective tax rates and the U.S.\\nstatutory rate of 35% are as follows:\\n\\nYear ended December 31,\\nIn millions                                   1995      1994      1993\\n- -----------------------------------------------------------------------\\nTax expense at U.S. statutory rate          $  416    $  410    $  216\\nForeign tax effect, net                        (79)      (97)      (64)\\nNon-deductible purchased\\n in-process technology                          85\\nOther, net                                     (23)       (8)        2\\n                                            ---------------------------\\n                                            $  399    $  305    $  154\\n                                            ===========================\\n\\nIn connection with the acquisitions that occurred during 1995, the\\nCompany expensed $241 million for a non-recurring, non-tax deductible\\ncharge for purchased in-process technology which resulted in an\\nincrease in the 1995 effective tax rate from 28% to 34%.\\n\\nThe Company increased its U.S. deferred tax liability in 1993 as a\\nresult of legislation enacted during 1993 which increased the\\ncorporate tax rate to 35% from 34% retroactive to January 1, 1993. The\\nincrease had an immaterial effect on the consolidated financial\\nstatements.\\n\\nThe Company benefits from a tax holiday in Singapore which expires in\\n2001, with a potential extension to August 2004 if certain cumulative\\ninvestment levels and other conditions are met. During the first\\nquarter of 1993 the Company determined that a portion of the\\nundistributed earnings of its Singaporean manufacturing subsidiary\\nwill be reinvested indefinitely. As a result of this determination, no\\nprovision for U.S. income tax was made on $337 million, $218 million,\\nand $158 million of earnings of this subsidiary during 1995, 1994 and\\n1993, respectively. These earnings would become subject to U.S. tax if\\nthey were actually or deemed to be remitted to the Company as\\ndividends or if the Company should sell its stock in this subsidiary.\\nThe Company estimates an additional tax provision of $250 million\\nwould be required at such time if the full amount of these accumulated\\nearnings became subject to U.S. tax. The decision to reinvest such\\nearnings indefinitely had the effect of increasing earnings per share\\nby $0.43, $0.28, and $0.21 on a fully diluted basis in 1995, 1994, and\\n1993, respectively.\\n\\nDeferred tax liabilities (assets) at December 31, 1995 and 1994 are\\ncomprised of the following:\\n\\nDecember 31,\\nIn millions                                         1995         1994\\n- -----------------------------------------------------------------------\\nUnremitted earnings of foreign subsidiaries      $    226     $    182\\nDifference arising from different tax and\\n financial reporting year ends                         33           19\\nDepreciation and property, plant, and\\n equipment basis differences                           18            4\\nUnrealized currency gains                                            2\\nOther                                                  13           17\\n                                                 ----------------------\\n    Gross deferred tax liabilities                    290          224\\n                                                 ----------------------\\n\\nPost sales support and warranty accruals             (117)        (103)\\nReceivable valuation allowances                       (84)         (65)\\nStock option compensation                             (56)         (45)\\nIntercompany profit eliminations                      (29)         (40)\\nInventory valuation allowances                        (39)         (36)\\nLoss carryforwards                                    (41)         (20)\\nUnrealized currency losses                            (10)\\nDepreciation and property, plant, and\\n equipment basis differences                          (17)          (9)\\nOther                                                 (45)         (30)\\n                                                 ----------------------\\n    Gross deferred tax assets                        (438)        (348)\\n                                                 ----------------------\\nDeferred tax asset valuation allowance                  7\\n                                                 ----------------------\\n                                                 $   (141)    $   (124)\\n                                                 ======================\\n\\nNote 9 - Stockholders\\' Equity and Employee Benefit Plans:\\n\\nEquity incentive plans - At December 31, 1995, there were 55,728,062\\nshares of common stock reserved by the Board of Directors for issuance\\nunder the Company\\'s employee stock option plans. Options are generally\\ngranted at the fair market value of the common stock at the date of\\ngrant and generally vest over four to five years. In limited\\ncircumstances, options may be granted at prices less than fair market\\nvalue and may vest immediately. Options granted under the plans must\\nbe exercised not later than ten years from the date of grant. Options\\non 12,421,495 shares were exercisable at December 31, 1995.\\n\\nIn connection with the acquisitions discussed in Note 2, the Company\\nassumed certain outstanding options to purchase common stock of the\\nacquired companies and exchanged them for options to acquire 529,053\\nshares of the Company\\'s common stock at exercise prices of $6.49 to\\n$32.75 per share.\\n\\nThe following table summarizes activity under the plans for each of\\nthe three years in the period ended December 31, 1995:\\n\\n                                             Shares       Price per share\\n                                          (In thousands)\\n\\nOptions outstanding, December 31, 1992       41,910\\nOptions granted                               6,456      $ 14.88-24.63\\nOptions lapsed or cancelled                  (2,154)\\nOptions exercised                           (13,469)         .09-23.25\\n                                            -------\\nOptions outstanding, December 31, 1993       32,743\\nOptions granted                               5,567        28.66-40.13\\nOptions lapsed or cancelled                  (1,021)\\nOptions exercised                            (7,901)         .78-35.38\\n                                            -------\\nOptions outstanding, December 31, 1994       29,388\\nOptions granted                               6,469         6.49-55.63\\nOptions lapsed or cancelled                  (1,116)\\nOptions exercised                            (5,785)         .97-40.13\\n                                            -------\\nOptions outstanding, December 31, 1995       28,956\\n                                            =======\\n\\nThere were 25,583,736; 17,802,000; and 22,554,000 shares available for\\ngrants under the plans at December 31, 1995, 1994, and 1993,\\nrespectively.\\n\\nThe Company has a Stock Option Plan for Non-Employee Directors (the\\nDirector Plan). At December 31, 1995, there were 1,190,310 shares of\\ncommon stock reserved for issuance under the Director Plan. Pursuant\\nto the terms of the plan, each non-employee director is entitled to\\nreceive options to purchase common stock of the Company upon initial\\nappointment to the Board (initial grants) and upon subsequent\\nreelection to the Board (annual grants). Initial grants are\\nexercisable during the period beginning one year after initial\\nappointment to the Board and ending ten years after the date of grant.\\nAnnual grants vest over two years and are exercisable thereafter until\\nthe tenth anniversary of the date of grant. Both initial grants and\\nannual grants have an exercise price equal to the fair market value of\\nthe Company\\'s stock on the date of grant. Additionally, pursuant to\\nthe terms of the Director Plan, non-employee directors may elect to\\nreceive stock options in lieu of all or a portion of the annual\\nretainer to be earned. Such options are granted at 50% of the price of\\nthe Company\\'s common stock at the date of grant and are exercisable\\nduring the period beginning one year after the grant date and ending\\nten years after the date of grant. Options totaling 458,853 were\\nexercisable under the Director Plan at December 31, 1995. Activity\\nunder the plan for each of the three years in the period ended\\nDecember 31, 1995 was as follows:\\n\\n                                             Shares      Price per share\\n                                         (In thousands)\\n\\nOptions outstanding, December 31, 1992         477\\nOptions granted                                105        $ 8.13-16.25\\nOptions lapsed or cancelled                    (15)\\nOptions exercised                              (84)         4.23-13.35\\n                                              ----\\nOptions outstanding, December 31, 1993         483\\nOptions granted                                113         18.12-36.25\\nOptions exercised                              (93)         2.54-20.33\\n                                              ----\\nOptions outstanding, December 31, 1994         503\\nOptions granted                                126         19.50-48.38\\nOptions exercised                               (7)         2.54-18.12\\n                                              ----\\nOptions outstanding, December 31, 1995         622\\n                                              ====\\n\\nThere were 568,241; 694,000; and 807,000 shares available for grants\\nunder the plan at December 31, 1995, 1994, and 1993, respectively.\\n\\nCompaq Computer Corporation Investment Plan - The Company has an\\nInvestment Plan available to all domestic employees and intended to\\nqualify as a deferred compensation plan under Section 401(k) of the\\nInternal Revenue Code of 1986. Employees may contribute to the plan up\\nto 14% of their salary with a yearly maximum not to exceed the maximum\\nallowable by the Internal Revenue Service. The Company will match\\nemployee contributions for an amount up to 6% of each employee\\'s base\\nsalary. Contributions are invested at the direction of the employee in\\none or more funds or can be directed to purchase common stock of the\\nCompany at fair market value. Company contributions generally vest\\nover three years although Company contributions for those employees\\nhaving five years of service vest immediately. Company contributions\\nare charged to expense in accordance with their vesting. Amounts\\ncharged to expense were $22 million, $19 million, and $16 million in\\n1995, 1994, and 1993, respectively.\\n\\nIncentive compensation plan - The Company has an incentive\\ncompensation plan for the majority of its employees. Provision for\\npayments to be made under the plan is based on 6% of net income from\\noperations, as defined, and is payable semiannually. The amount\\nexpensed under the plan was $59 million, $51 million, and $27 million\\nin 1995, 1994, and 1993, respectively.\\n\\nStock split - All share and per share information has been\\nretroactively restated in the accompanying financial data to reflect\\nthe three-for-one stock split effected in the form of a stock dividend\\neffective May 31, 1994.\\n\\nNote 10 - Certain Market and Geographic Data:\\n\\nThe Company has subsidiaries in various foreign countries that\\nmanufacture and sell the Company\\'s products in their respective\\ngeographic areas. Summary information with respect to the Company\\'s\\ngeographic operations in 1995, 1994, and 1993 follows:\\n\\n                           United\\n                          States &              Other     Elimin-    Consol-\\nIn millions                Canada    Europe   countries   nations    idated\\n- ----------------------------------------------------------------------------\\n1995\\n- ----\\nSales to customers       $  7,255  $  5,370  $   2,130             $ 14,755\\nIntercompany transfers      1,632       307      1,676  $  (3,615)\\n                         ---------------------------------------------------\\n                         $  8,887  $  5,677  $   3,806  $  (3,615) $ 14,755\\n                         ===================================================\\n\\nIncome (loss) from\\n operations              $    663  $    672  $     265  $      (8) $  1,592\\n                         =========================================\\nCorporate expenses, net (1)                                            (404)\\n                                                                   ---------\\nPretax income                                                      $  1,188\\n                                                                   =========\\n\\nIdentifiable assets      $  3,697  $  1,898  $   1,487  $      (9) $  7,073\\n                         =========================================\\nGeneral corporate assets                                                745\\n                                                                   ---------\\nTotal assets                                                       $  7,818\\n                                                                   =========\\n1994\\n- ----\\nSales to customers       $  5,473  $  3,829  $   1,564             $ 10,866\\nIntercompany transfers      1,526       175      1,660  $  (3,361)\\n                         ---------------------------------------------------\\n                         $  6,999  $  4,004  $   3,224  $  (3,361) $ 10,866\\n                         ===================================================\\n\\nIncome (loss) from\\n operations              $    533  $    470  $     292  $      (1) $  1,294\\n                         =========================================\\nCorporate expenses, net                                                (122)\\n                                                                   ---------\\nPretax income                                                      $  1,172\\n                                                                   =========\\n\\nIdentifiable assets      $  2,835  $  1,591  $   1,274  $      (5) $  5,695\\n                         =========================================\\nGeneral corporate assets                                                471\\n                                                                   ---------\\nTotal assets                                                       $  6,166\\n                                                                   =========\\n1993\\n- ----\\nSales to customers       $  3,670  $  2,718  $     803             $  7,191\\nIntercompany transfers      1,514       109        990  $  (2,613)\\n                         ---------------------------------------------------\\n                         $  5,184  $  2,827  $   1,793  $  (2,613) $  7,191\\n                         ===================================================\\n\\nIncome from operations   $    310  $    183  $     245  $       5  $    743\\n                         =========================================\\nCorporate expenses, net                                                (127)\\n                                                                   ---------\\nPretax income                                                      $    616\\n                                                                   =========\\n\\nIdentifiable assets      $  1,905  $    970  $     586  $      (4) $  3,457\\n                         =========================================\\nGeneral corporate assets                                                627\\n                                                                   ---------\\nTotal assets                                                       $  4,084\\n                                                                   =========\\n\\n(1) Includes a $241 million non-recurring, non-tax deductible charge\\nfor purchased in-process technology in connection with acquisitions\\nthat occurred during 1995.\\n\\nNote 11 - Commitments, Contingencies, Financial Instruments, and\\nFactors that May Affect Future Operations:\\n\\nDerivative financial instruments and fair value of financial\\ninstruments - The Company utilizes primarily forward contracts and\\npurchased foreign currency options to reduce its exposure to\\npotentially adverse changes in foreign currency exchange rates. The\\nCompany does not hold or issue financial instruments for trading\\npurposes nor does it hold or issue interest rate or leveraged\\nderivative financial instruments. Additional discussion related to the\\nCompany\\'s programs to reduce its foreign currency exposure is\\npresented in Management\\'s Discussion and Analysis of Financial\\nCondition and Results of Operations.\\n\\nAt December 31, 1995 and 1994, the Company had purchased currency\\noptions outstanding aggregating $26 million and $208 million,\\nrespectively, to buy Japanese yen related to commitments for inventory\\npurchases and certain capital expenditures. The Company also had yen-\\ndenominated investments aggregating $72 million outstanding at\\nDecember 31, 1995 relating to these commitments. Unrealized gains,\\nlosses, and deferred costs related to option contracts associated with\\nsuch commitments at these dates were not material. Any gains or\\nlosses, if realized, or costs related to these contracts are recorded\\nas part of the cost of the inventory or capital item upon acquisition.\\nThe maturity dates of the yen-denominated investments and currency\\noption contracts which were outstanding at December 31, 1995 extended\\nfrom one month to 45 days.\\n\\nThe Company\\'s program to reduce the currency exposure associated with\\nthe net monetary assets of the Company\\'s international subsidiaries\\nincludes agreements to exchange various foreign currencies for U.S.\\ndollars. At December 31, 1995 and 1994, such agreements to sell\\nforeign currencies included forward contracts aggregating $1.4 billion\\nand $1.2 billion, respectively, and purchased currency option\\ncontracts aggregating $45 million at December 31, 1994. Unrealized and\\nrealized gains and losses resulting from these contracts are included\\nin other income and expense in the Company\\'s consolidated statement of\\nincome and generally are recognized currently, while the interest\\nelement associated with forward contracts is recognized as interest\\nexpense over the life of each contract. Unrealized gains and losses on\\nthese contracts are reflected in accounts receivable or other current\\nliabilities in the Company\\'s consolidated balance sheet and\\napproximate the fair value of such contracts at December 31, 1995 and\\n1994. The maturity dates of the forward contracts and currency option\\ncontracts which were outstanding at December 31, 1995 extended from\\ntwo days to six months.\\n\\nThe Company has utilized purchased currency option contracts to hedge\\na portion of the anticipated but not firmly committed sales of its\\ninternational marketing subsidiaries. Although no such contracts were\\noutstanding at December 31, 1994, contracts aggregating $253 million\\nwere outstanding at December 31, 1995 related to the hedge of such\\nsales for a six-month period. The unrealized gain deferred on these\\ncontracts at December 31, 1995 was $2 million. Gains and premium costs\\nassociated with such purchased currency option contracts are reflected\\nas a component of sales in the Company\\'s consolidated statement of\\nincome.\\n\\nThe Company has utilized forward contracts to protect the Company\\nagainst potentially adverse changes in foreign currency exchange rates\\non anticipated but not firmly committed sales of its international\\nmarketing subsidiaries which are expected to occur within a three-\\nmonth period. No such contracts were outstanding at December 31, 1995\\nand 1994. During 1995 and 1994 the amount of any gain or loss on these\\ncontracts was immaterial.\\n\\nIn the event of a failure to honor one of these forward contracts by\\none of the banks with which the Company had contracted, management\\nbelieves any loss would be limited to the exchange rate differential\\nfrom the time the contract was made until the time it was compensated.\\nTo the extent the Company has option contracts outstanding, the amount\\nof any loss resulting from a breach of contract would be limited to\\nthe amount of premiums paid for the options and the unrealized gain,\\nif any, related to such contracts.\\n\\nThe Company enters into various other types of financial instruments\\nin the normal course of business. Fair values for certain financial\\ninstruments are based on quoted market prices. For other financial\\ninstruments, fair values are based on the appropriate pricing models\\nusing current market information. The amounts ultimately realized upon\\nsettlement of these financial instruments will depend on actual market\\nconditions during the remaining life of the instruments. Fair values\\nof cash and cash equivalents, accounts receivable, accounts payable,\\nand other current liabilities reflected in the December 31, 1995 and\\n1994 consolidated balance sheets approximate carrying value at that\\ndate. The fair value of the Company\\'s long-term debt at December 31,\\n1995 and 1994 was estimated to be $312 million and $279 million,\\nrespectively, compared with its carrying value of $300 million.\\n\\nConcentration of credit risk - The Company\\'s cash and cash equivalents\\nand accounts receivable are subject to potential credit risk. The\\nCompany\\'s cash management and investment policies restrict investments\\nto low risk, highly-liquid securities and the Company performs\\nperiodic evaluations of the relative credit standing of the financial\\ninstitutions with which it deals.\\n\\nThe Company distributes products primarily through third-party\\nresellers and as a result maintains individually significant accounts\\nreceivable balances from various major resellers. The Company\\nevaluates the credit worthiness of its resellers on an ongoing basis\\nand may, from time to time, tighten credit terms to particular\\nresellers. Such tightening may take the form of shorter payment terms,\\nrequiring security, reduction of credit availability, or the\\ndeauthorization of a reseller. In addition, the Company uses various\\nrisk transfer instruments such as credit insurance, factoring, and\\nfloor planning with third-party finance companies and financial\\ninstitutions; however, there can be no assurance that these\\narrangements will be sufficient to avoid significant accounts\\nreceivable losses or will continue to be available. While the Company\\nbelieves that its distribution strategies will serve to minimize the\\nrisk associated with the loss of a reseller or the decline in sales to\\na reseller due to tightened credit terms, there can be no assurance\\nthat disruption to the Company\\'s sales and profitability will not\\noccur. If the financial condition and operations of these resellers\\ndeteriorate, the Company\\'s operating results could be adversely\\naffected. At December 31, 1995 the receivable balances from the\\nCompany\\'s five largest resellers represented approximately 20% of\\naccounts receivable. The Company generally has experienced longer\\naccounts receivable cycles in its emerging markets, in particular\\nChina and Latin America, when compared to its U.S. and European\\nmarkets. In the event that accounts receivable cycles in these\\ndeveloping markets lengthen further or one or more of the Company\\'s\\nlarger resellers in these regions fail, the Company could be adversely\\naffected.\\n\\nThe Company\\'s resellers typically purchase products on an as-needed\\nbasis through purchase orders. Certain of the Company\\'s resellers\\nfinance a portion of their inventories through third-party finance\\ncompanies. Under the terms of the financing arrangements, the Company\\nmay be required, in limited circumstances, to repurchase certain\\nproducts from the finance companies. Additionally, the Company has on\\noccasion guaranteed a portion of certain resellers\\' outstanding\\nbalances with third-party finance companies and financial\\ninstitutions. Guarantees under these and other arrangements\\naggregating $55 million and $28 million were outstanding at\\nDecember 31, 1995 and 1994, respectively. During the years that the\\nCompany has supported these financing programs, claims under these\\narrangements have been negligible. The Company makes provisions for\\nestimated product returns and bad debts which may occur under these\\nprograms.\\n\\nFactors that may affect future operations - The Company participates\\nin a highly volatile industry that is characterized by fierce industry-\\nwide competition for market share resulting in aggressive pricing\\npractices, continually changing customer demand patterns, growing\\ncompetition from well-capitalized high technology and consumer\\nelectronics companies, and rapid technological development. The\\nCompany\\'s operating results could be adversely affected should the\\nCompany be unable to anticipate customer demand accurately, to\\nmaintain short design cycles while meeting evolving industry\\nperformance standards, to manage its product transitions, inventory\\nlevels, and manufacturing processes efficiently, to distribute its\\nproducts quickly in response to customer demand, to differentiate its\\nproducts from those of its competitors, or to compete successfully in\\nthe markets for its new products.\\n\\nSignificant numbers of components are purchased from single sources\\ndue to technology, availability, price, quality, or other\\nconsiderations. Key components and processes currently obtained from\\nsingle sources include certain of the Company\\'s displays,\\nmicroprocessors, application specific integrated circuits and other\\ncustom chips, and certain processes relating to construction of the\\nplastic housing for the Company\\'s computers. In addition, new products\\nintroduced by the Company often initially utilize custom components\\nobtained from only one source until the Company has evaluated whether\\nthere is a need for additional suppliers. In the event that a supply\\nof a key single-sourced material, process, or component were delayed\\nor curtailed, the Company\\'s ability to ship the related product in\\ndesired quantities and in a timely manner could be adversely affected.\\nThe Company attempts to mitigate these risks by working closely with\\nkey suppliers on product plans, strategic inventories, and coordinated\\nproduct introductions.\\n\\nLitigation - The Company is subject to legal proceedings and claims\\nwhich arise in the ordinary course of its business. Management does\\nnot believe that the outcome of any of those matters will have a\\nmaterial adverse effect on the Company\\'s consolidated financial\\nposition or operating results. Additional discussion on legal\\nproceedings is presented in Part I (Item 3) of this Annual Report on\\nForm 10-K.\\n\\nLease commitments - The Company leases certain manufacturing and\\noffice facilities and equipment under noncancelable operating leases\\nwith terms from one to 30 years. Rent expense for 1995, 1994, and 1993\\nwas $75 million, $48 million, and $32 million, respectively.\\n\\nThe Company\\'s minimum rental commitments under noncancelable operating\\nleases at December 31, 1995 were as follows:\\n\\n                                 Year            Amount\\n                                             (In millions)\\n                               -------         ---------\\n                               1996            $     42\\n                               1997                  35\\n                               1998                  26\\n                               1999                  19\\n                               2000                  16\\n                               Thereafter           177\\n                                               ---------\\n                                               $    315\\n                                               =========\\n\\nNote 12 - Selected Quarterly Financial Data (not covered by report of\\nindependent accountants):\\n\\nThe table below sets forth selected financial information for each\\nquarter of the last two years.\\n\\nIn millions,                   1st           2nd           3rd           4th\\nexcept per share amounts     quarter       quarter       quarter       quarter\\n- ------------------------------------------------------------------------------\\n1995\\n\\nSales                      $  2,959      $  3,501      $  3,594      $  4,701\\nGross margin                    724           826           819         1,019\\nNet income (1)                  216           246           245            82\\nEarnings per common and\\n  common equivalent share\\n    Primary (1)                0.80          0.90          0.89          0.30\\n    Assuming full dilution (1) 0.80          0.90          0.89          0.30\\n\\n1994\\n\\nSales                      $  2,278      $  2,499      $  2,838      $  3,251\\nGross margin                    617           663           653           794\\nNet income                      213           210           201           243\\nEarnings per common and\\n  common equivalent share\\n    Primary                    0.80          0.78          0.75          0.90\\n    Assuming full dilution     0.80          0.78          0.75          0.90\\n\\n(1)  Includes a $241 million ($.87 per share) non-recurring, non-tax\\ndeductible charge for purchased in-process technology in connection\\nwith acquisitions that occurred during the fourth quarter of 1995.\\n\\nEarnings per common and common equivalent share are computed\\nindependently for each of the quarters presented and therefore may not\\nsum to the totals for the year.\\n\\n\\nPART III\\n\\nItems 10 to 13  inclusive.\\n\\n     These items have been omitted in accordance with instructions to\\nForm 10-K Annual Report.  The Registrant will file with the Commission\\nin March 1996, pursuant to Regulation 14A, a definitive proxy\\nstatement that will involve the election of directors.\\n\\nPART IV\\n\\nItem 14.  Exhibits, Financial Statement Schedules, and Reports on Form\\n          8-K.\\n\\n     (a)  The following documents are filed as a part of this report:\\n\\n     Financial Statements and Financial Statement Schedules - See\\nIndex to Consolidated Financial Statements at Item 8 of this report.\\n\\nExhibit\\n  No.     Description of Exhibits\\n\\n3.1       Restated Certificate of Incorporation of Registrant.\\n\\n3.2       Bylaws of Registrant, as amended (incorporated herein by\\n          reference to Exhibit No. 3.5 to the Registrant\\'s Form 10-Q\\n          for the quarter ended June 30, 1992).\\n\\n4.1       Senior Debt Indenture dated as of March 1, 1994, between the\\n          Registrant and NationsBank of Texas, National Association,\\n          Trustee (incorporated by reference to Exhibit 4.a to the\\n          Registrant\\'s Registration Statement No. 33-63436 on Form S-3\\n          (the \"Form S-3\")).\\n\\n4.2       Subordinated Debt Indenture dated as of March 1,\\n          1994, between the Registrant and NationsBank of Texas,\\n          National Association, Trustee (incorporated by reference\\n          to Exhibit 4.b to the Form S-3).\\n\\n4.3       Specimen of the Registrant\\'s 6 1/2% senior notes\\n          due March 1999 (incorporated by reference to the\\n          Registrant\\'s Form 8-K dated March 10, 1994 (the \"March\\n          1994 Form 8-K\")).\\n\\n4.4       Specimen of the Registrant\\'s 7 1/4% senior notes\\n          due March 15, 2004 (incorporated by reference to the\\n          March 1994 Form 8-K).\\n\\n10.1      Registrant\\'s 1982 Stock Option Plan, as amended\\n          (incorporated herein by reference to the corresponding\\n          exhibit in the Registrant\\'s Form 10-Q for the quarter\\n          ended June 30, 1989 (the \"1989 Second Quarter Form 10-Q\")). *\\n\\n10.2      Registrant\\'s 1983 Nonqualified Stock Option Plan,\\n          as amended (incorporated herein by reference to the\\n          corresponding exhibit in the Registrant\\'s Form 10-K for\\n          the year ended December 31, 1988). *\\n\\n10.3      Registrant\\'s 1985 Stock Option Plan (incorporated\\n          herein by reference to Exhibit 10.3 to the Registrant\\'s\\n          Form 10-K for the year ended December 31, 1991 (the\\n          \"1991 Form 10-K\")). *\\n\\n10.4      Registrant\\'s 1985 Executive and Key Employees Stock\\n          Option Plan, as amended (incorporated herein by\\n          reference to Exhibit 10.3 to the 1989 Second Quarter\\n          Form 10-Q). *\\n\\n10.5      Registrant\\'s 1985 Nonqualified Stock Option Plan,\\n          as amended (incorporated herein by reference to Exhibit\\n          10.4 to the 1989 Second Quarter Form 10-Q). *\\n\\n10.6      Forms of Stock Option Agreements relating to\\n          Exhibits 10.1 through 10.5 (incorporated herein by\\n          reference to Exhibit 10.6 to the Registrant\\'s Form 10-K\\n          for the year ended December 31, 1987). *\\n\\n10.7      Registrant\\'s 1989 Equity Incentive Plan, as amended\\n          (incorporated herein by reference to Exhibit 10.7 to the\\n          1991 Form 10-K). *\\n\\n10.8      Form of Stock Option Notice relating to Exhibit\\n          10.7 (incorporated herein by reference to Exhibit 10.8\\n          to the 1991 Form 10-K). *\\n\\n10.9      Registrant\\'s 1995 Equity Incentive Plan. *\\n\\n10.10     Form of Stock Option Notice relating to Exhibit 10.9. *\\n\\n10.11     Registrant\\'s Bonus Incentive Plan. *\\n\\n10.12     Registrant\\'s Stock Option Plan for Non-Employee\\n          Directors, as amended. *\\n\\n10.13     Registrant\\'s Forms of Stock Option Agreement\\n          relating to Exhibit 10.12. *\\n\\n10.14     Registrant\\'s Deferred Compensation and\\n          Supplemental Savings Plan, as amended (incorporated\\n          herein by reference to Exhibit 10.10 to the Registrant\\'s\\n          Form 10-K for the year ended December 31, 1993). *\\n\\n10.15     Employment Agreement dated as of January 1,\\n          1992 between the Registrant and Eckhard Pfeiffer\\n          (incorporated by reference to Exhibit 10.15 to the 1991\\n          Form 10-K). *\\n\\n10.16     Form of letter agreement between Registrant\\n          and its executive officers (incorporated by reference to\\n          Exhibit 10.16 to the 1991 Form 10-K). *\\n\\n10.17     $250,000,000 Credit Agreement dated as of\\n          October 31, 1995 among Compaq Computer Corporation, the\\n          banks signatory thereto, Bank of America National Trust\\n          and Savings Association as Agent, and NationsBank of\\n          Texas, N.A. and Citibank, N.A. as Co-agents\\n          (incorporated by reference to Exhibit (b)(2) to the\\n          Registrant\\'s Schedule 14D-1 relating to the acquisition\\n          of NetWorth, Inc. filed on November 9, 1995 (the \"14D-1\")).\\n\\n10.18     $1,000,000,000 Credit Agreement dated as of October\\n          31, 1995 among Compaq Computer Corporation, the banks\\n          signatory thereto, Bank of America National Trust and\\n          Savings Association as Agent, and NationsBank of Texas,\\n          N.A. and Citibank, N.A. as Co-agents (incorporated by\\n          reference to Exhibit (b)(1) to the 14D-1).\\n\\n11        Statement regarding the computation of per share\\n          earnings.\\n\\n21        Subsidiaries of Registrant.\\n\\n23        Consent of Price Waterhouse LLP, independent\\n          accountants.\\n\\n27        Financial Data Schedule (EDGAR version only).\\n\\n          * Indicates management contract or compensatory plan or\\n            arrangement.\\n\\n     (b)  Reports on Form 8-K:\\n\\n     Report on Form 8-K dated January 24, 1996, containing the\\nCompany\\'s news release dated January 24, 1996, with respect to its\\nfinancial results for the period ended December 31, 1995, including an\\nunaudited consolidated balance sheet as of December 31, 1995, and an\\nunaudited consolidated statement of income for the year ended December\\n31, 1995.\\n\\n     Report on Form 8-K dated March 1, 1996, containing the Company\\'s\\nnews release dated March 1, 1996.\\n\\n     Compaq, ProLinea, ProLiant, Deskpro, Contura, Compaq Insight\\nManager, LTE, Presario, and Smart Start Registered United States\\nPatent and Trademark Office.  DirectPlus and CompaqCare are a\\nregistered service marks of Compaq Computer Corporation.  ProSignia\\nand Intelligent Manageability are trademarks of Compaq Computer\\nCorporation.  Wonder Tools is a trademark of Compaq Computer\\nCorporation and Fisher-Price, Inc.  Other product names mentioned\\nherein may be trademarks or registered trademarks of their respective\\ncompanies.\\n\\n\\n                            SIGNATURES\\n\\n     Pursuant to the requirements of Section 13 or 15(d) of the\\nSecurities Exchange Act of 1934, the Registrant has duly caused this\\nreport to be signed on its behalf by the undersigned, thereunto duly\\nauthorized.\\n\\n                            Compaq Computer Corporation\\n\\n\\n                            By: /s/  ECKHARD PFEIFFER\\n                                -------------------------------\\n                                Eckhard Pfeiffer, President and\\n                                   Chief Executive Officer\\n                                Date:  March 4, 1996\\n\\n     Pursuant to the requirements of the Securities Exchange Act of\\n1934, this report has been signed below by the following persons on\\nbehalf of the Registrant in the capacities and on the dates indicated.\\n\\n    Signature                 Title                       Date\\n\\n                           President and Director\\n/s/ ECKHARD PFEIFFER       (principal executive officer)  March 4, 1996\\n- -------------------------\\n   (Eckhard Pfeiffer)\\n\\n                           Senior Vice President-Finance\\n                           and Chief Financial Officer\\n/s/  DARYL J. WHITE        (principal financial officer)  March 4, 1996\\n- -------------------------\\n    (Daryl J. White)\\n\\n                           Chairman of the\\n/s/BENJAMIN M. ROSEN       Board of Directors             February 29, 1996\\n- -------------------------\\n  (Benjamin M. Rosen)\\n\\n\\n/s/LAWRENCE T. BABBIO, JR. Director                       February 29, 1996\\n- -------------------------\\n(Lawrence T. Babbio, Jr.)\\n\\n\\n/s/ROBERT TED ENLOE, III   Director                       February 29, 1996\\n- -------------------------\\n(Robert Ted Enloe, III)\\n\\n\\n/s/GEORGE H. HEILMEIER     Director                       February 29, 1996\\n- -------------------------\\n (George H. Heilmeier)\\n\\n\\n/s/GEORGE E.R. KINNEAR II  Director                       February 29, 1996\\n- -------------------------\\n(George E.R. Kinnear II)\\n\\n\\n/s/ PETER N. LARSON        Director                       February 29, 1996\\n- -------------------------\\n   (Peter N. Larson)\\n\\n\\n/s/  KENNETH L. LAY        Director                       February 29, 1996\\n- -------------------------\\n    (Kenneth L. Lay)\\n\\n\\n/s/  KENNETH ROMAN         Director                       February 29, 1996\\n- -------------------------\\n    (Kenneth Roman)\\n\\n\\nPAGE S-1\\n\\n                                                       SCHEDULE VIII\\n                     COMPAQ COMPUTER CORPORATION\\n                  VALUATION AND QUALIFYING ACCOUNTS\\n                   Allowance for Doubtful Accounts\\n\\n\\nYear ended December 31,\\nIn millions                            1995        1994        1993\\n- --------------------------------------------------------------------\\nBalance, beginning of period          $  75       $  49       $  25\\nAdditions charged to expense             43          36          33\\nReductions                              (18)        (10)         (9)\\n                                      ------------------------------\\nBalance, end of period                $ 100       $  75       $  49\\n                                      ==============================\\n\\n'"
            ]
          },
          "execution_count": 7,
          "metadata": {},
          "output_type": "execute_result"
        }
      ],
      "source": [
        "test_table_chunking = chunk_by_table(texts['1996'])\n",
        "\n",
        "parse_10ks(1996, test_table_chunking[\"texts\"])"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 8,
      "metadata": {
        "id": "iZr2bJ6jTV6F"
      },
      "outputs": [],
      "source": [
        "# split into table/not table\n",
        "\n",
        "split_by_table = {\n",
        "    year: chunk_by_table(text)\n",
        "    for year, text in texts.items()\n",
        "}"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 9,
      "metadata": {
        "id": "Fv5E0t_8ULfX"
      },
      "outputs": [],
      "source": [
        "# clean the non-table bits\n",
        "\n",
        "clean_texts = {\n",
        "    year: {\"tables\": chunk_data[\"tables\"],\n",
        "           \"texts\": parse_10ks(year, chunk_data[\"texts\"])}\n",
        "    for year, chunk_data in split_by_table.items()\n",
        "}\n"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "4e9MLifdhJur"
      },
      "source": [
        "## Text Chunking"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 10,
      "metadata": {
        "id": "RfZi8ZBy5X0h"
      },
      "outputs": [],
      "source": [
        "CHAR_CHUNKS = 1500\n",
        "\n",
        "def chunk_text(text: str, chunk_size: int) -> list:\n",
        "    \"\"\"\n",
        "    Split text into chunks of a specified size.\n",
        "\n",
        "    Args:\n",
        "        text (str): The text to be split.\n",
        "        chunk_size (int): Maximum number of characters per chunk.\n",
        "\n",
        "    Returns:\n",
        "        list: A list of text chunks.\n",
        "    \"\"\"\n",
        "    return [text[i:i + chunk_size] for i in range(0, len(text), chunk_size)]\n",
        "\n",
        "# chunk the texts, ignore the tables\n",
        "\n",
        "chunked_texts = {\n",
        "    year: {\"tables\": chunk_data[\"tables\"],\n",
        "           \"texts\": chunk_text(chunk_data[\"texts\"], CHAR_CHUNKS)}\n",
        "    for year, chunk_data in clean_texts.items()\n",
        "}\n"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 11,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/"
        },
        "id": "giWPdoAG5X0h",
        "outputId": "91872aa9-1b88-4a81-e99e-1fedd8933e38"
      },
      "outputs": [
        {
          "name": "stdout",
          "output_type": "stream",
          "text": [
            "[\"<TABLE> <S> <C>\\n\\n<PAGE>\\n<ARTICLE> 5\\n<LEGEND>\\nTHIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM\\nCOMPAQ COMPUTER CORPORATION'S CONSOLIDATED BALANCE SHEET AND CONSOLIDATED\\nSTATEMENT OF INCOME FOR THE PERIOD ENDED DECEMBER 31, 1994 AND IS QUAILIFIED\\nIN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.\\n</LEGEND>\\n<MULTIPLIER> 1,000,000\\n       \\n<S>                             <C>\\n<PERIOD-TYPE>                   YEAR\\n<FISCAL-YEAR-END>                          DEC-31-1994\\n<PERIOD-END>                               DEC-31-1994\\n<CASH>                                             471\\n<SECURITIES>                                         0\\n<RECEIVABLES>                                    2,362\\n<ALLOWANCES>                                        75\\n<INVENTORY>                                      2,005\\n<CURRENT-ASSETS>                                 5,158\\n<PP&E>                                           1,672\\n<DEPRECIATION>                                     728\\n<TOTAL-ASSETS>                                   6,166\\n<CURRENT-LIABILITIES>                            2,013\\n<BONDS>                                            300\\n<COMMON>                                           739\\n<PREFERRED-MANDATORY>                                0\\n<PREFERRED>                                          0\\n<OTHER-SE>                                       2,935\\n<TOTAL-LIABILITY-AND-EQUITY>                     6,166\\n<SALES>                                         10,866\\n<TOTAL-REVENUES>                                10,866\\n<CGS>                                            8,139\\n<TOTAL-COSTS>                                    8,139\\n<OTHER-EXPENSES>                                   226<F1>\\n<LOSS-PROVISION>                                    36\\n<INTEREST-EXPENSE>                                  71\\n<INCOME-PRETAX>                                  1,172\\n<INCOME-TAX>                                       305\\n<INCOME-CONTINUING>                                867\\n<DISCONTINUED>                                       0\\n<EXTRAORDINARY>                                      0\\n<CHANGES>                                            0\\n<NET-INCOME>                                       867\\n<EPS-PRIMARY>                                     3.23\\n<EPS-DILUTED>                                     3.21\\n<FN>\\n<F1> Includes research and development costs.\\n</FN>\\n        \\n\\n</TABLE>\"]\n"
          ]
        }
      ],
      "source": [
        "print(chunked_texts['1995']['tables'])"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "mP7bYDbihOYA"
      },
      "source": [
        "# Indexing with Pinecone\n",
        "## Setting up Pinecone"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 12,
      "metadata": {
        "id": "tnKsAaRZ6FCd"
      },
      "outputs": [],
      "source": [
        "def is_colab():\n",
        "    try:\n",
        "        import google.colab\n",
        "        return True\n",
        "    except ImportError:\n",
        "        return False\n",
        "\n",
        "# Load API key based on environment\n",
        "if is_colab():\n",
        "    from google.colab import userdata\n",
        "    api_key = userdata.get('PINECONE_API_KEY')\n",
        "else:\n",
        "    # Local environment - load from .env or environment variable\n",
        "    load_dotenv()\n",
        "    api_key = os.environ.get(\"PINECONE_API_KEY\")\n",
        "\n",
        "if not api_key:\n",
        "    raise ValueError(\"PINECONE_API_KEY not found\")\n",
        "\n",
        "pc = Pinecone(api_key=api_key)\n",
        "index_name = \"reranking-compaq\""
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 13,
      "metadata": {
        "id": "M-i27wniacJj"
      },
      "outputs": [],
      "source": [
        "# Set up index:\n",
        "if not pc.has_index(index_name):\n",
        "    index_model = pc.create_index_for_model(\n",
        "        name=index_name,\n",
        "        cloud=\"aws\",\n",
        "        region=\"us-east-1\",\n",
        "        embed={\n",
        "            \"model\": \"multilingual-e5-large\",\n",
        "            \"field_map\": {\"text\": \"chunk_text\"}\n",
        "        }\n",
        "    )\n",
        "\n",
        "# Then get the index reference for operations\n",
        "index = pc.Index(index_name)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "5Rh3SYlVhlbx"
      },
      "source": [
        "## Data Transformation for Indexing"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 14,
      "metadata": {
        "id": "rvIHec6P5X0h"
      },
      "outputs": [],
      "source": [
        "# Target the created index for upsert and search\n",
        "\n",
        "index = pc.Index(index_name)\n",
        "\n",
        "# reformat into records, make the ids for each chunk relate to the documentyear\n",
        "\n",
        "base_string = \"compaq\"\n",
        "# then, we add the document year and the chunk number to the base_string to create unique id\n",
        "\n",
        "all_text_records = []\n",
        "all_table_records = []\n",
        "\n",
        "for year, chunks in chunked_texts.items():\n",
        "    text_records = [\n",
        "        {\n",
        "            \"chunk_text\": chunk,\n",
        "            \"_id\": f\"{base_string}_{year}#text{num}\",\n",
        "            \"filed_year\": int(year),\n",
        "            \"chunk_type\": \"text\"\n",
        "        }\n",
        "        for num, chunk in enumerate(chunks[\"texts\"])\n",
        "    ]\n",
        "    table_records = [\n",
        "        {\n",
        "            \"chunk_text\": chunk,\n",
        "            \"_id\": f\"{base_string}_{year}#table{num}\",\n",
        "            \"filed_year\": int(year),\n",
        "            \"chunk_type\": \"table\"\n",
        "        }\n",
        "        for num, chunk in enumerate(chunks[\"tables\"])\n",
        "    ]\n",
        "    all_text_records.extend(text_records)\n",
        "    all_table_records.extend(table_records)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "R3xzDN3GiZYl"
      },
      "source": [
        "## Upserting Data to Pinecone"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 15,
      "metadata": {
        "id": "3rdTAK8Q5X0i"
      },
      "outputs": [],
      "source": [
        "# we need to upsert in batches of 96 due to limitations of the integrated inference endpoint\n",
        "\n",
        "def upsert_in_batches(records, batch_size=96):\n",
        "    for i in range(0, len(records), batch_size):\n",
        "        batch = records[i:i+batch_size]\n",
        "        # Extract the record IDs for this batch\n",
        "        record_ids = [record[\"_id\"] for record in batch]\n",
        "\n",
        "        # Fetch existing records from the index for these IDs.\n",
        "        # (Assumes that the returned dict contains a \"vectors\" key with the current records.)\n",
        "        existing = index.fetch(ids=record_ids, namespace=base_string)\n",
        "        existing_ids = set(existing.get(\"vectors\", {}).keys())\n",
        "\n",
        "        # Filter out records that already exist.\n",
        "        records_to_upsert = [record for record in batch if record[\"_id\"] not in existing_ids]\n",
        "\n",
        "        if records_to_upsert:\n",
        "            index.upsert_records(namespace=base_string, records=records_to_upsert)\n",
        "            time.sleep(1)\n",
        "\n",
        "upsert_in_batches(all_text_records)\n",
        "\n",
        "# Tables exceed size limits.\n",
        "# upsert_in_batches(all_table_records)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "UvfzB9ECasSN"
      },
      "source": [
        "# Querying the Index"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 16,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/",
          "height": 1000
        },
        "id": "Zu0ulUw-5X0i",
        "outputId": "51288e51-2438-4d33-809f-6f6a24a670f9"
      },
      "outputs": [
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\">hese hedging\n",
              "activities provide only limited protection against currency exchange risks.\n",
              "Factors that could affect the effectiveness of Compaq's hedging programs include\n",
              "accuracy of sales forecasts, volatility of the currency markets and availability\n",
              "of hedging instruments. All currency contracts that are entered into by Compaq\n",
              "are components of hedging programs and are entered into for the sole purpose of\n",
              "hedging an existing or anticipated currency exposure, not for speculation.\n",
              "Although Compaq maintains these programs to reduce the impact of changes in\n",
              "currency exchange rates, Compaq's revenues or costs are adversely affected when\n",
              "the U.S. dollar sustains a strengthening position against currencies in which\n",
              "Compaq sells products and services or a weakening exchange rate against\n",
              "currencies in which Compaq incurs costs.\n",
              "\n",
              "         Based on Compaq's foreign currency exchange instruments outstanding at\n",
              "December <span style=\"color: #008080; text-decoration-color: #008080; font-weight: bold\">31</span>, <span style=\"color: #008080; text-decoration-color: #008080; font-weight: bold\">2001</span>, Compaq estimates a maximum potential one-day loss in fair\n",
              "value of approximately $<span style=\"color: #008080; text-decoration-color: #008080; font-weight: bold\">36</span> million. Compaq included all foreign exchange\n",
              "contracts in the value-at-risk calculation. The holding period for these\n",
              "instruments varies from one day to nine months, with the exception of\n",
              "instruments held in connection with leasing operations, which have holding\n",
              "periods up to four years.\n",
              "\n",
              "         Changes in interest rates affect interest income earned on Compaq's\n",
              "cash equivalents and short-term investments, interest expense on short-term\n",
              "borrowings, and the fair value of Compa\n",
              "</pre>\n"
            ],
            "text/plain": [
              "hese hedging\n",
              "activities provide only limited protection against currency exchange risks.\n",
              "Factors that could affect the effectiveness of Compaq's hedging programs include\n",
              "accuracy of sales forecasts, volatility of the currency markets and availability\n",
              "of hedging instruments. All currency contracts that are entered into by Compaq\n",
              "are components of hedging programs and are entered into for the sole purpose of\n",
              "hedging an existing or anticipated currency exposure, not for speculation.\n",
              "Although Compaq maintains these programs to reduce the impact of changes in\n",
              "currency exchange rates, Compaq's revenues or costs are adversely affected when\n",
              "the U.S. dollar sustains a strengthening position against currencies in which\n",
              "Compaq sells products and services or a weakening exchange rate against\n",
              "currencies in which Compaq incurs costs.\n",
              "\n",
              "         Based on Compaq's foreign currency exchange instruments outstanding at\n",
              "December \u001b[1;36m31\u001b[0m, \u001b[1;36m2001\u001b[0m, Compaq estimates a maximum potential one-day loss in fair\n",
              "value of approximately $\u001b[1;36m36\u001b[0m million. Compaq included all foreign exchange\n",
              "contracts in the value-at-risk calculation. The holding period for these\n",
              "instruments varies from one day to nine months, with the exception of\n",
              "instruments held in connection with leasing operations, which have holding\n",
              "periods up to four years.\n",
              "\n",
              "         Changes in interest rates affect interest income earned on Compaq's\n",
              "cash equivalents and short-term investments, interest expense on short-term\n",
              "borrowings, and the fair value of Compa\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        },
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\">lly accepted in the United States. For some markets, Compaq has determined\n",
              "that ongoing hedging of non-U.S. dollar net monetary assets is not cost effective and instead attempts to minimize \n",
              "currency exposure risk through working capital management. There can be\n",
              "no assurance that such an approach will be successful, especially if a significant and sudden decline occurs in the\n",
              "value of local currencies. Compaq purchases foreign currency option contracts from\n",
              "time to time as well as short-term forward exchange contracts to protect against currency exchange risks associated\n",
              "with the anticipated revenues of Compaq's international marketing\n",
              "subsidiaries, with the exception of Latin America and other subsidiaries that reside in countries in which such \n",
              "activity would not be cost effective or local regulations preclude this type of\n",
              "activity. These hedging activities provide only limited protection against currency exchange risks. Factors that \n",
              "could impact the effectiveness of Compaq's hedging programs include accuracy of sales\n",
              "forecasts, volatility of the currency markets and availability of hedging instruments. All currency contracts that \n",
              "are entered into by Compaq are components of hedging programs and are entered into\n",
              "for the sole purpose of hedging an existing or anticipated currency exposure, not for speculation. Although Compaq \n",
              "maintains these programs to reduce the impact of changes in currency exchange rates,\n",
              "Compaq's revenues or costs are adversely affected when the U.S. doll\n",
              "</pre>\n"
            ],
            "text/plain": [
              "lly accepted in the United States. For some markets, Compaq has determined\n",
              "that ongoing hedging of non-U.S. dollar net monetary assets is not cost effective and instead attempts to minimize \n",
              "currency exposure risk through working capital management. There can be\n",
              "no assurance that such an approach will be successful, especially if a significant and sudden decline occurs in the\n",
              "value of local currencies. Compaq purchases foreign currency option contracts from\n",
              "time to time as well as short-term forward exchange contracts to protect against currency exchange risks associated\n",
              "with the anticipated revenues of Compaq's international marketing\n",
              "subsidiaries, with the exception of Latin America and other subsidiaries that reside in countries in which such \n",
              "activity would not be cost effective or local regulations preclude this type of\n",
              "activity. These hedging activities provide only limited protection against currency exchange risks. Factors that \n",
              "could impact the effectiveness of Compaq's hedging programs include accuracy of sales\n",
              "forecasts, volatility of the currency markets and availability of hedging instruments. All currency contracts that \n",
              "are entered into by Compaq are components of hedging programs and are entered into\n",
              "for the sole purpose of hedging an existing or anticipated currency exposure, not for speculation. Although Compaq \n",
              "maintains these programs to reduce the impact of changes in currency exchange rates,\n",
              "Compaq's revenues or costs are adversely affected when the U.S. doll\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        },
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\">nimize currency\n",
              "exposure risk through working capital management. There can be no assurance that\n",
              "such an approach will be successful, especially if a significant and sudden\n",
              "decline occurs in the value of local currencies. Compaq purchases foreign\n",
              "currency option contracts from time to time as well as short-term forward\n",
              "exchange contracts to protect against currency exchange risks associated with\n",
              "the anticipated revenues of Compaq's international marketing subsidiaries, with\n",
              "the exception of certain subsidiaries that reside in countries in which such\n",
              "activity would not be cost effective or local regulations preclude this type of\n",
              "activity. These hedging activities provide only limited protection against\n",
              "currency exchange risks. Factors that could impact the effectiveness of Compaq's\n",
              "hedging programs include accuracy of sales forecasts, volatility of the currency\n",
              "markets and availability of hedging instruments. All currency contracts that are\n",
              "entered into by Compaq are components of hedging programs and are entered into\n",
              "for the sole purpose of hedging an existing or anticipated currency exposure,\n",
              "not for speculation. Although Compaq maintains these programs to reduce the\n",
              "impact of changes in currency exchange rates, Compaq's revenues or costs are\n",
              "adversely affected when the U.S. dollar sustains a strengthening position\n",
              "against currencies in which Compaq sells products and services or a weakening\n",
              "exchange rate against currencies in which Compaq incurs costs.\n",
              "\n",
              "      Changes in int\n",
              "</pre>\n"
            ],
            "text/plain": [
              "nimize currency\n",
              "exposure risk through working capital management. There can be no assurance that\n",
              "such an approach will be successful, especially if a significant and sudden\n",
              "decline occurs in the value of local currencies. Compaq purchases foreign\n",
              "currency option contracts from time to time as well as short-term forward\n",
              "exchange contracts to protect against currency exchange risks associated with\n",
              "the anticipated revenues of Compaq's international marketing subsidiaries, with\n",
              "the exception of certain subsidiaries that reside in countries in which such\n",
              "activity would not be cost effective or local regulations preclude this type of\n",
              "activity. These hedging activities provide only limited protection against\n",
              "currency exchange risks. Factors that could impact the effectiveness of Compaq's\n",
              "hedging programs include accuracy of sales forecasts, volatility of the currency\n",
              "markets and availability of hedging instruments. All currency contracts that are\n",
              "entered into by Compaq are components of hedging programs and are entered into\n",
              "for the sole purpose of hedging an existing or anticipated currency exposure,\n",
              "not for speculation. Although Compaq maintains these programs to reduce the\n",
              "impact of changes in currency exchange rates, Compaq's revenues or costs are\n",
              "adversely affected when the U.S. dollar sustains a strengthening position\n",
              "against currencies in which Compaq sells products and services or a weakening\n",
              "exchange rate against currencies in which Compaq incurs costs.\n",
              "\n",
              "      Changes in int\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        }
      ],
      "source": [
        "ranked_results = index.search_records(\n",
        "    namespace=\"compaq\",\n",
        "    query={\n",
        "        \"inputs\": {\"text\": \"risks to compaq for dollar hedging\"},\n",
        "        \"top_k\": 20\n",
        "    },\n",
        "    rerank={\n",
        "        \"model\": \"cohere-rerank-3.5\",\n",
        "        \"top_n\": 3,\n",
        "        \"rank_fields\": [\"chunk_text\"]\n",
        "    },\n",
        "    fields=[\"chunk_text\"]\n",
        ")\n",
        "\n",
        "hits = ranked_results[\"result\"][\"hits\"]\n",
        "\n",
        "for hit in hits:\n",
        "    chunk = hit['fields']['chunk_text']\n",
        "    chunk = unescape(chunk)  # Converts &nbsp; to actual non-breaking spaces\n",
        "    rprint(chunk)"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 17,
      "metadata": {
        "id": "YU0cA_445X0i"
      },
      "outputs": [],
      "source": [
        "def query_db(query: str, embed_with_rerank: bool = False, filter: dict = None) -> list:\n",
        "    \"\"\"\n",
        "    Query the Pinecone index with an optional rerank.\n",
        "\n",
        "    Args:\n",
        "        query (str): The query string.\n",
        "        embed_with_rerank (bool, optional): Whether to apply reranking. Defaults to False.\n",
        "        filter (dict, optional): Filter criteria for the query. Defaults to None.\n",
        "\n",
        "    Returns:\n",
        "        list: A list of hit records from the index.\n",
        "    \"\"\"\n",
        "    top_k = 20 if embed_with_rerank else 3\n",
        "    q = {\"inputs\": {\"text\": query}, \"top_k\": top_k}\n",
        "    if filter is not None:\n",
        "        q[\"filter\"] = filter\n",
        "\n",
        "    if embed_with_rerank:\n",
        "        ranked_results = index.search_records(\n",
        "            namespace=\"compaq\",\n",
        "            query=q,\n",
        "            rerank={\n",
        "                \"model\": \"cohere-rerank-3.5\",\n",
        "                \"top_n\": 3,\n",
        "                \"rank_fields\": [\"chunk_text\"]\n",
        "            },\n",
        "            fields=[\"chunk_text\"]\n",
        "        )\n",
        "    else:\n",
        "        ranked_results = index.search_records(\n",
        "            namespace=\"compaq\",\n",
        "            query=q,\n",
        "            fields=[\"chunk_text\"]\n",
        "        )\n",
        "    return ranked_results[\"result\"][\"hits\"]\n"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": null,
      "metadata": {
        "id": "1J9SVDzKommm"
      },
      "outputs": [],
      "source": []
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "dZhxK5muonHF"
      },
      "source": [
        "## Formatting query results with Rich\n",
        "\n",
        "We can use Rich to display the results of our queries in a really clean fashion."
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 27,
      "metadata": {
        "id": "wu6l4NNpYFGj"
      },
      "outputs": [],
      "source": [
        "def query_with_formatting(query: str) -> Table:\n",
        "    \"\"\"\n",
        "    Execute a query and format the results into a Rich Table.\n",
        "\n",
        "    Args:\n",
        "        query (str): The query string.\n",
        "\n",
        "    Returns:\n",
        "        Table: A Rich Table object with side-by-side results.\n",
        "    \"\"\"\n",
        "    without_hits = query_db(query, embed_with_rerank=False, filter={\"chunk_type\": \"text\"})\n",
        "    with_hits = query_db(query, embed_with_rerank=True, filter={\"chunk_type\": \"text\"})\n",
        "\n",
        "    without_texts = [hit['fields']['chunk_text'] for hit in without_hits]\n",
        "    with_texts = [hit['fields']['chunk_text'] for hit in with_hits]\n",
        "\n",
        "    table = Table(title=f\"Results with query: {query}\", show_lines=True)\n",
        "    table.add_column(\"Result #\", justify=\"left\", style=\"black\", no_wrap=True, width=75)\n",
        "    table.add_column(\"Without Rerank\", justify=\"left\", style=\"black\", width=500)\n",
        "    table.add_column(\"With Rerank\", style=\"blue\", justify=\"left\", width=500)\n",
        "\n",
        "    for i, (no_rerank, with_rerank_text) in enumerate(zip(without_texts, with_texts), start=1):\n",
        "        table.add_row(str(i), unescape(no_rerank), unescape(with_rerank_text))\n",
        "\n",
        "    return table"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "3IjHlGdIYR04"
      },
      "source": [
        "## Simple Query\n"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "y750nvktnIlQ"
      },
      "source": [
        "This query allows us to pull data bout what Compaq sells, and how it corresponds to sales.\n",
        "\n",
        "In the returned results, we see the Rerank endpoint returning chunks that are more concerned with changes in the product offerings, but not sales, where as the endpoint without rerank is returning sales numbers. Let's see if we can impact this a bit better."
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 28,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/",
          "height": 1000
        },
        "id": "Phtr0BjNnJHA",
        "outputId": "6b07d90d-bbf6-4710-fdff-4f15c8466b06"
      },
      "outputs": [
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\"><span style=\"font-style: italic\">               Results with query: Changes in Compaq's product offerings and their impacts on sales                </span>\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃<span style=\"font-weight: bold\"> Result #     </span>┃<span style=\"font-weight: bold\"> Without Rerank                                  </span>┃<span style=\"font-weight: bold\"> With Rerank                                    </span>┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 1            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> uld be an adverse impact on                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> ts, which is related to                        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> inventory, cash, and related profitability.     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> component costs, is a critical variable in     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> The Company faces product                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> predicting customer decisions to move          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transitions throughout 1996, particularly in    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to  the  next  generation of products. Because </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> its commercial desktop                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> of the lead times associated with              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and systems divisions.  In each product         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> its  volume  production,  should  Compaq  be   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transition cycle the Company                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> unable to gauge the rate of product            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> confronts the challenge of managing the         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> transitions  accurately,  there  could be an   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> inventory of its older                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> adverse impact on inventory levels,            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products and facilitating the sale of older     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> cash,  and  profitability.  In  addition,  as  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq inventory held by                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> a result of the Tandem and Digital             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> resellers as it increases sales of newer PCs.   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisitions,  Compaq  is  engaged  in  direct </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> The Company provides                            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> sales  of  computer systems with               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> currently for estimated product returns and     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> software  developed  to meet customers'        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> price protection that may                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> specific needs.  The long-term nature of       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> occur under programs the Company has with its   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> such  contracts  exposes Compaq to risks       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> customers and under                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> associated with changing customer needs        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> floor planning arrangements with third-party    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and  expectations.                             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> finance companies.  The                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Company and resellers in the U.S. currently     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      Product  Transitions.  In  each product   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> hold substantial amounts                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> cycle, Compaq confronts the risk of            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of inventory of certain of the Company's        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> delays  in production that could impact sales  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products.  The Company                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> of newer products while it manages             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> expects anticipated selected pricing actions    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the inventory of older products and            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and aggressive marketing                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> facilitates the sale of older inventory held   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> programs in the first half of 1996 to raise     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> by  resellers.  To  ease product transitions,  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> dealer sales of these                           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq carries out pricing actions             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products, which will facilitate product         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and marketing programs to increase sales by    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transitions.  The success of                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> resellers. It provides currently for           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> this strategy depends upon a variety of         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> estimated  product  returns  and  price        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> competitive and market factors                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> protection that may occur under reseller       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and is subject to the other risks set forth in  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> programs  and  under  floor  planning          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> this report.  Should                            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> arrangements  with  third-party  finance       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the Company be unable to sell its inventory of  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> companies.  Should  Compaq  be unable to sell  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> older products at                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the inventory of older products at             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> anticipated prices or if dealers hold higher    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> anticipated prices, should it not anticipate   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> than expected amounts of                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> pricing actions that are necessary,            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> inventory subject to price protection at the    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> or  if  dealers  hold higher than expected     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> time of planned price                           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> amounts of inventory subject to price          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> reductions, there could be a resulting adverse  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> impact on sales, gross                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> margins, and profitability.                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Reengineering Implementation.  The Company      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> continues to expand                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> manufacturing and                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 2            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> icipants confront                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> g  environment  throughout  1997.              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> aggressive pricing practices, continually       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> changing customer demand patterns, and rapid    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      The  personal  computer  industry  is     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> technological developments. The cautionary      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> highly  competitive  and marked by             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> statements below discuss important factors that </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> frequent  product  introductions,  continual   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> could cause actual                              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> improvement  in  product                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> results to differ materially from the projected </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> price/performance  characteristics  and  a     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> results contained in the forward-looking        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> large  number  of  competitors.                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> statements in this report.                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Approximately  58%  of  Compaq's  CPU sales in </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1997 were derived from products                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">     Inability to transition to direct sales     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> introduced  in  1997.    These  new products   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> could negatively affect financial results.  In  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> have been designed to allow us to              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> recent years, the market for                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> achieve  low  product  costs while maintaining </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> personal computers has shifted from sales       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the quality and reliability for                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> through resellers toward direct sales to end    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> which  our products have been known, thereby   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> users. Compaq sells directly to end users in    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increasing our ability to compete              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> all market sectors, but the largest proportion  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> on  price  and  value.                         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of direct sales are                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> in large enterprise accounts. Products in       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      The  significant  increase  in  sales  in </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Commercial Personal Computing are sold          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1997 stemmed primarily from an                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> primarily through third-party resellers while   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increase  in  the  number  of  units  sold and </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products in Consumer are sold principally       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> an increase in sales of options                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> through retail outlets. Direct                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> associated with CPU products. In 1997,         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> sales present a more efficient business model   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq's worldwide unit sales increased        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> for personal computer sales, particularly for   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 43%  while  they  increased  23%  in  1996.    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> small and medium businesses and large           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> The 1997 increase included a 35%               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> enterprise accounts, where customers require    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> expansion  in  unit  sales  of  commercial     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> custom configured                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> CPU  products,  a 62% increase for             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products with short delivery cycle times.       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> consumer  CPU  products  and  a  65%  increase </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq has not kept pace with changes in the    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> for  enterprise  CPU products.                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> industry's sales and distribution model and has </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> According to third-party estimates, worldwide  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> faced challenges in developing and implementing </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> unit sales of personal computers               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> processes for                                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increased  approximately  15%  to  16%  in     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> order entry, production of individualized units </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1997,  in contrast to a 16% to 18%             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and direct distribution. Compaq has established </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increase  in  1996.    Competition  continues  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> a variety of programs designed to achieve these </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to have a significant impact on                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> capabilities by simplifying its product set and </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> prices  of  our  products,  especially those   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> pricing                                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> aimed at the consumer market, and              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> model, re-engineering the cha                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> additional pricing actions may occur as we     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> attempt to maintain our competitive            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> mix of price/performance chara                 </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 3            </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      The  following  discussion  should  be     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> n  the  supplier  to  support  Compaq's        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> read  in  conjunction  with  the                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> requirements  for periods averaging 90 to 120  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consolidated  financial  statements.  Except    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> days. From time to time Compaq has             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> as  specifically  indicated, the                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> experienced  significant  price  increases     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> forward-looking  statements  contained  in      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and  limited availability of certain           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> this  discussion  do not take into              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> components  that  are  available from multiple </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consideration the impact of Compaq's agreement  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> sources. At times Compaq has been              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> to merge with Digital Equipment                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> constrained  by  parts  availability  in       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Corporation  as  described  in  Item  1,  which </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> meeting  product  orders  and  future          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> is subject to the approval of                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> constraints  could  have  an  adverse  effect  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Digital's  shareholders as well as certain      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> on Compaq's operating results. On              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> regulatory approvals.  We expect to             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> occasion,  Compaq  acquires  component         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consummate  the  merger  in  the  second        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> inventory  in  anticipation  of  supply        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> quarter  of  1998.                              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> constraints.  A  restoration  of component     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> availability and resulting decline in          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> component  pricing more quickly than           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> RESULTS  OF  OPERATIONS                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> anticipated could have an adverse effect on    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq's  operating  results.                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      The  following  table  presents,  as  a    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> percentage  of  sales,  selected                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> MARKETING  AND  DISTRIBUTION                   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consolidated  financial  data  for each of the  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> three years in the period ended                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      Compaq's  hardware products are sold to   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> December  31.                                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> large and medium-sized business and            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> government  customers  primarily  through      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> dealers,  value-added  resellers  and          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> systems integrators and to small business and  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> home customers principally through             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> SALES                                           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> dealers  and  consumer  channels. In response  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to changing industry practices and             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      Sales for 1997 increased approximately     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> customer  preferences,  Compaq  is  continuing </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> $4.6 billion or 23% over the prior              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> its  expansion  of  distribution               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> year  as  compared with an increase of $3.3     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> establishments.  Compaq  also sells hardware   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> billion or 20% during 1996.  North              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> products directly through its sales            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> American sales, which include Canada, increased </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> force  and  to small businesses and home       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 26% during 1997, compared with                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> customers through Compaq's Internet web        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> an  increase  of  29%  during  1996.            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> page  at www.compaq.com as well as through its </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> International sales, excluding Canada,          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> mail order business that features              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> represented 45% of total sales in 1997 as       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">          --------------                        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> compared with 47% in 1996.  European            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> a  variety  of  personal  computers,  printers </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> sales  increased  21%  during 1997 compared to  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and  software  products.                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> an increase of 10% during 1996.                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Other international sales increased 15% during  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> COMPAQ                                         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 1997, compared with an increase                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of  14%  during  1996.  Other international     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> markets experienced adverse market              </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> conditions  in  1997.  In  particular,  the     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> weakness in the Asian and Japanese              </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> markets  resulted  in  an  aggressive  pricin   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n",
              "</pre>\n"
            ],
            "text/plain": [
              "\u001b[3m               Results with query: Changes in Compaq's product offerings and their impacts on sales                \u001b[0m\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃\u001b[1m \u001b[0m\u001b[1mResult #    \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWithout Rerank                                 \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWith Rerank                                   \u001b[0m\u001b[1m \u001b[0m┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│\u001b[30m \u001b[0m\u001b[30m1           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30muld be an adverse impact on                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mts, which is related to                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minventory, cash, and related profitability.    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomponent costs, is a critical variable in    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mThe Company faces product                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpredicting customer decisions to move         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransitions throughout 1996, particularly in   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto  the  next  generation of products. Because\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mits commercial desktop                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mof the lead times associated with             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand systems divisions.  In each product        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mits  volume  production,  should  Compaq  be  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransition cycle the Company                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munable to gauge the rate of product           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconfronts the challenge of managing the        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtransitions  accurately,  there  could be an  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minventory of its older                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34madverse impact on inventory levels,           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts and facilitating the sale of older    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcash,  and  profitability.  In  addition,  as \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq inventory held by                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34ma result of the Tandem and Digital            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresellers as it increases sales of newer PCs.  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisitions,  Compaq  is  engaged  in  direct\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mThe Company provides                           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msales  of  computer systems with              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcurrently for estimated product returns and    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msoftware  developed  to meet customers'       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprice protection that may                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mspecific needs.  The long-term nature of      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moccur under programs the Company has with its  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msuch  contracts  exposes Compaq to risks      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcustomers and under                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34massociated with changing customer needs       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfloor planning arrangements with third-party   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand  expectations.                            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfinance companies.  The                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompany and resellers in the U.S. currently    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     Product  Transitions.  In  each product  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mhold substantial amounts                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcycle, Compaq confronts the risk of           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof inventory of certain of the Company's       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdelays  in production that could impact sales \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts.  The Company                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mof newer products while it manages            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexpects anticipated selected pricing actions   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe inventory of older products and           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand aggressive marketing                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfacilitates the sale of older inventory held  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprograms in the first half of 1996 to raise    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mby  resellers.  To  ease product transitions, \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdealer sales of these                          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq carries out pricing actions            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts, which will facilitate product        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand marketing programs to increase sales by   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransitions.  The success of                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mresellers. It provides currently for          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthis strategy depends upon a variety of        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mestimated  product  returns  and  price       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcompetitive and market factors                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprotection that may occur under reseller      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand is subject to the other risks set forth in \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprograms  and  under  floor  planning         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthis report.  Should                           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34marrangements  with  third-party  finance      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe Company be unable to sell its inventory of \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcompanies.  Should  Compaq  be unable to sell \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30molder products at                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe inventory of older products at            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30manticipated prices or if dealers hold higher   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34manticipated prices, should it not anticipate  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthan expected amounts of                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpricing actions that are necessary,           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minventory subject to price protection at the   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mor  if  dealers  hold higher than expected    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtime of planned price                          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mamounts of inventory subject to price         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mreductions, there could be a resulting adverse \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mimpact on sales, gross                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmargins, and profitability.                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mReengineering Implementation.  The Company     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcontinues to expand                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmanufacturing and                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m2           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30micipants confront                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mg  environment  throughout  1997.             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maggressive pricing practices, continually      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mchanging customer demand patterns, and rapid   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     The  personal  computer  industry  is    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtechnological developments. The cautionary     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhighly  competitive  and marked by            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mstatements below discuss important factors that\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfrequent  product  introductions,  continual  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcould cause actual                             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mimprovement  in  product                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresults to differ materially from the projected\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprice/performance  characteristics  and  a    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresults contained in the forward-looking       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mlarge  number  of  competitors.               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mstatements in this report.                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mApproximately  58%  of  Compaq's  CPU sales in\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1997 were derived from products               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m    Inability to transition to direct sales    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mintroduced  in  1997.    These  new products  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcould negatively affect financial results.  In \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhave been designed to allow us to             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrecent years, the market for                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34machieve  low  product  costs while maintaining\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpersonal computers has shifted from sales      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe quality and reliability for               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthrough resellers toward direct sales to end   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwhich  our products have been known, thereby  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30musers. Compaq sells directly to end users in   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincreasing our ability to compete             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mall market sectors, but the largest proportion \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mon  price  and  value.                        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof direct sales are                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30min large enterprise accounts. Products in      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     The  significant  increase  in  sales  in\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCommercial Personal Computing are sold         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1997 stemmed primarily from an                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprimarily through third-party resellers while  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincrease  in  the  number  of  units  sold and\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts in Consumer are sold principally      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34man increase in sales of options               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthrough retail outlets. Direct                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34massociated with CPU products. In 1997,        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msales present a more efficient business model  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq's worldwide unit sales increased       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfor personal computer sales, particularly for  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m43%  while  they  increased  23%  in  1996.   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msmall and medium businesses and large          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mThe 1997 increase included a 35%              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30menterprise accounts, where customers require   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mexpansion  in  unit  sales  of  commercial    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcustom configured                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCPU  products,  a 62% increase for            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts with short delivery cycle times.      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconsumer  CPU  products  and  a  65%  increase\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq has not kept pace with changes in the   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfor  enterprise  CPU products.                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mindustry's sales and distribution model and has\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mAccording to third-party estimates, worldwide \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfaced challenges in developing and implementing\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munit sales of personal computers              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprocesses for                                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincreased  approximately  15%  to  16%  in    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30morder entry, production of individualized units\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1997,  in contrast to a 16% to 18%            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand direct distribution. Compaq has established\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincrease  in  1996.    Competition  continues \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30ma variety of programs designed to achieve these\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto have a significant impact on               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcapabilities by simplifying its product set and\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprices  of  our  products,  especially those  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpricing                                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maimed at the consumer market, and             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmodel, re-engineering the cha                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34madditional pricing actions may occur as we    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mattempt to maintain our competitive           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmix of price/performance chara                \u001b[0m\u001b[34m \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m3           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     The  following  discussion  should  be    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mn  the  supplier  to  support  Compaq's       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mread  in  conjunction  with  the               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrequirements  for periods averaging 90 to 120 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsolidated  financial  statements.  Except   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdays. From time to time Compaq has            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mas  specifically  indicated, the               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mexperienced  significant  price  increases    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mforward-looking  statements  contained  in     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand  limited availability of certain          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthis  discussion  do not take into             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomponents  that  are  available from multiple\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsideration the impact of Compaq's agreement \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msources. At times Compaq has been             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mto merge with Digital Equipment                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconstrained  by  parts  availability  in      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCorporation  as  described  in  Item  1,  which\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmeeting  product  orders  and  future         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mis subject to the approval of                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconstraints  could  have  an  adverse  effect \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mDigital's  shareholders as well as certain     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mon Compaq's operating results. On             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mregulatory approvals.  We expect to            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moccasion,  Compaq  acquires  component        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsummate  the  merger  in  the  second       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minventory  in  anticipation  of  supply       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mquarter  of  1998.                             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconstraints.  A  restoration  of component    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mavailability and resulting decline in         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomponent  pricing more quickly than          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mRESULTS  OF  OPERATIONS                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34manticipated could have an adverse effect on   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq's  operating  results.                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     The  following  table  presents,  as  a   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpercentage  of  sales,  selected               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mMARKETING  AND  DISTRIBUTION                  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsolidated  financial  data  for each of the \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthree years in the period ended                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     Compaq's  hardware products are sold to  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mDecember  31.                                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mlarge and medium-sized business and           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mgovernment  customers  primarily  through     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdealers,  value-added  resellers  and         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msystems integrators and to small business and \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhome customers principally through            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mSALES                                          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdealers  and  consumer  channels. In response \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto changing industry practices and            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     Sales for 1997 increased approximately    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcustomer  preferences,  Compaq  is  continuing\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m$4.6 billion or 23% over the prior             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mits  expansion  of  distribution              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30myear  as  compared with an increase of $3.3    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mestablishments.  Compaq  also sells hardware  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mbillion or 20% during 1996.  North             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mproducts directly through its sales           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mAmerican sales, which include Canada, increased\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mforce  and  to small businesses and home      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m26% during 1997, compared with                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcustomers through Compaq's Internet web       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30man  increase  of  29%  during  1996.           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpage  at www.compaq.com as well as through its\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mInternational sales, excluding Canada,         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmail order business that features             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrepresented 45% of total sales in 1997 as      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m         --------------                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcompared with 47% in 1996.  European           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34ma  variety  of  personal  computers,  printers\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msales  increased  21%  during 1997 compared to \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand  software  products.                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30man increase of 10% during 1996.                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mOther international sales increased 15% during \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCOMPAQ                                        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m1997, compared with an increase                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof  14%  during  1996.  Other international    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmarkets experienced adverse market             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconditions  in  1997.  In  particular,  the    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mweakness in the Asian and Japanese             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmarkets  resulted  in  an  aggressive  pricin  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        }
      ],
      "source": [
        "QUERY = \"Changes in Compaq's product offerings and their impacts on sales\"\n",
        "result = query_with_formatting(QUERY)\n",
        "console = Console()\n",
        "console.print(result)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "AT-iUZpjnSuA"
      },
      "source": [
        "## Numerical Reasoning Capability\n",
        "\n",
        "Let's take our query and add a requirement on sales numbers. Normal reranking models (and embedding models) cannot handle this level of granularity, so let's see how the Rerank endpoint performs.\n"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 29,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/",
          "height": 1000
        },
        "id": "XpR6wuBSnTPn",
        "outputId": "4c5ec847-5ab8-4a96-f29f-50704f6d60f8"
      },
      "outputs": [
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\"><span style=\"font-style: italic\">Results with query: Changes in Compaq's product offerings and their impacts on sales and show changes greater than </span>\n",
              "<span style=\"font-style: italic\">                                                   30% in sales                                                    </span>\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃<span style=\"font-weight: bold\"> Result #     </span>┃<span style=\"font-weight: bold\"> Without Rerank                                  </span>┃<span style=\"font-weight: bold\"> With Rerank                                    </span>┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 1            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> icipants confront                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> g  environment  throughout  1997.              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> aggressive pricing practices, continually       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> changing customer demand patterns, and rapid    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      The  personal  computer  industry  is     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> technological developments. The cautionary      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> highly  competitive  and marked by             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> statements below discuss important factors that </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> frequent  product  introductions,  continual   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> could cause actual                              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> improvement  in  product                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> results to differ materially from the projected </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> price/performance  characteristics  and  a     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> results contained in the forward-looking        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> large  number  of  competitors.                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> statements in this report.                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Approximately  58%  of  Compaq's  CPU sales in </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1997 were derived from products                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">     Inability to transition to direct sales     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> introduced  in  1997.    These  new products   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> could negatively affect financial results.  In  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> have been designed to allow us to              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> recent years, the market for                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> achieve  low  product  costs while maintaining </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> personal computers has shifted from sales       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the quality and reliability for                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> through resellers toward direct sales to end    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> which  our products have been known, thereby   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> users. Compaq sells directly to end users in    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increasing our ability to compete              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> all market sectors, but the largest proportion  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> on  price  and  value.                         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of direct sales are                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> in large enterprise accounts. Products in       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      The  significant  increase  in  sales  in </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Commercial Personal Computing are sold          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1997 stemmed primarily from an                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> primarily through third-party resellers while   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increase  in  the  number  of  units  sold and </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products in Consumer are sold principally       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> an increase in sales of options                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> through retail outlets. Direct                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> associated with CPU products. In 1997,         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> sales present a more efficient business model   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq's worldwide unit sales increased        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> for personal computer sales, particularly for   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 43%  while  they  increased  23%  in  1996.    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> small and medium businesses and large           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> The 1997 increase included a 35%               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> enterprise accounts, where customers require    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> expansion  in  unit  sales  of  commercial     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> custom configured                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> CPU  products,  a 62% increase for             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products with short delivery cycle times.       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> consumer  CPU  products  and  a  65%  increase </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq has not kept pace with changes in the    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> for  enterprise  CPU products.                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> industry's sales and distribution model and has </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> According to third-party estimates, worldwide  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> faced challenges in developing and implementing </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> unit sales of personal computers               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> processes for                                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increased  approximately  15%  to  16%  in     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> order entry, production of individualized units </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1997,  in contrast to a 16% to 18%             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and direct distribution. Compaq has established </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increase  in  1996.    Competition  continues  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> a variety of programs designed to achieve these </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to have a significant impact on                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> capabilities by simplifying its product set and </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> prices  of  our  products,  especially those   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> pricing                                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> aimed at the consumer market, and              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> model, re-engineering the cha                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> additional pricing actions may occur as we     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> attempt to maintain our competitive            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> mix of price/performance chara                 </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 2            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> uld be an adverse impact on                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> n  the  supplier  to  support  Compaq's        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> inventory, cash, and related profitability.     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> requirements  for periods averaging 90 to 120  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> The Company faces product                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> days. From time to time Compaq has             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transitions throughout 1996, particularly in    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> experienced  significant  price  increases     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> its commercial desktop                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and  limited availability of certain           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and systems divisions.  In each product         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> components  that  are  available from multiple </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transition cycle the Company                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> sources. At times Compaq has been              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> confronts the challenge of managing the         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> constrained  by  parts  availability  in       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> inventory of its older                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> meeting  product  orders  and  future          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products and facilitating the sale of older     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> constraints  could  have  an  adverse  effect  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq inventory held by                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> on Compaq's operating results. On              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> resellers as it increases sales of newer PCs.   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> occasion,  Compaq  acquires  component         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> The Company provides                            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> inventory  in  anticipation  of  supply        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> currently for estimated product returns and     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> constraints.  A  restoration  of component     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> price protection that may                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> availability and resulting decline in          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> occur under programs the Company has with its   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> component  pricing more quickly than           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> customers and under                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> anticipated could have an adverse effect on    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> floor planning arrangements with third-party    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq's  operating  results.                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> finance companies.  The                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Company and resellers in the U.S. currently     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> MARKETING  AND  DISTRIBUTION                   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> hold substantial amounts                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of inventory of certain of the Company's        </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      Compaq's  hardware products are sold to   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products.  The Company                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> large and medium-sized business and            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> expects anticipated selected pricing actions    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> government  customers  primarily  through      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and aggressive marketing                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> dealers,  value-added  resellers  and          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> programs in the first half of 1996 to raise     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> systems integrators and to small business and  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> dealer sales of these                           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> home customers principally through             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products, which will facilitate product         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> dealers  and  consumer  channels. In response  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transitions.  The success of                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to changing industry practices and             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> this strategy depends upon a variety of         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> customer  preferences,  Compaq  is  continuing </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> competitive and market factors                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> its  expansion  of  distribution               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and is subject to the other risks set forth in  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> establishments.  Compaq  also sells hardware   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> this report.  Should                            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> products directly through its sales            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the Company be unable to sell its inventory of  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> force  and  to small businesses and home       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> older products at                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> customers through Compaq's Internet web        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> anticipated prices or if dealers hold higher    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> page  at www.compaq.com as well as through its </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> than expected amounts of                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> mail order business that features              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> inventory subject to price protection at the    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">          --------------                        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> time of planned price                           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> a  variety  of  personal  computers,  printers </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> reductions, there could be a resulting adverse  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and  software  products.                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> impact on sales, gross                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> margins, and profitability.                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> COMPAQ                                         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Reengineering Implementation.  The Company      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> continues to expand                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> manufacturing and                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 3            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> e personal computer industry, Compaq            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> ing 35 new                                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> ordinarily acquires materials and components    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> notebook, desktop, and server computer models. </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> through purchase orders typically               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Approximately 36% of the                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> covering the Company's requirements for periods </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Company's CPU sales and 30% of the Company's   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> averaging 90 to 120 days.  From                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> sales in 1993 were derived from                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> time to time the Company has experienced        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> products introduced in 1993.  These new        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> significant price increases and                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> products have been designed to allow           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> limited availability of certain components that </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the Company to achieve low product costs while </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> are available from multiple                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> maintaining the quality and                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> sources, such as dynamic random-access memory   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> reliability for which the Company's products   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> devices.  In 1993 the Company was               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> have been known, thereby                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> constrained by parts availability in meeting    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increasing the Company's ability to compete on </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> product orders.  Any similar                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> price and value.                               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> occurrences in the future could have an adverse </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> effect on the Company's                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> operating results.                              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> PAGE 9                                         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      The Company's significant increase in     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> PAGE 3                                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> consolidated sales in 1993 stemmed             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> primarily from an increase in the number of    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Marketing and Distribution                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> units sold.  In 1993 the Company's             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> worldwide unit shipments increased 98%, while  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      The Company distributes its products       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> they increased 78% in 1992.  The               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> principally through third-party                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1993 increase included a 196% expansion in     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> computer resellers.  In response to changing    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> unit shipments of the Company's                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> industry practices and customer                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> tower server CPU products.  Unit growth        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> preferences, the Company is continuing its      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> primarily resulted from the Company's          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> expansion into new distribution                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> aggressively priced Compaq ProLinea line in    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> channels, such as mass merchandise stores,      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> its desktop products, the Compaq               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consumer electronics outlets, and               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Contura portable lines, and the Compaq         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> computer superstores.  The Company's products   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Prosignia products in its tower systems.       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> are sold to large and medium-                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> The Company believes that the personal         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> sized business and government customers through </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> computer industry as a whole experienced       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> dealers, value-added resellers,                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> significant increases in unit shipments in     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and systems integrators and to small business   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1993, especially in North America,             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and home customers through                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> with industry unit growth worldwide according  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> dealers, consumer channels, and beginning in    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to third party estimates                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> March 1993 directly through the                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increasing approximately 20% in contrast to a  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Company's DirectPlus mail order business that   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 19% increase in 1992.  Industry                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> features a variety of personal                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> unit growth did not translate directly into    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> computers, printers, and software products.     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> sales growth because of                        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Business customers account for the              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> significantly lower unit prices.  Third-party  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> largest portion of the Company's revenues.      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> estimates indicate that industry               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Business customers are attracted to             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> sales increased by approximately 16% worldw    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the Company's products for                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n",
              "</pre>\n"
            ],
            "text/plain": [
              "\u001b[3mResults with query: Changes in Compaq's product offerings and their impacts on sales and show changes greater than \u001b[0m\n",
              "\u001b[3m                                                   30% in sales                                                    \u001b[0m\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃\u001b[1m \u001b[0m\u001b[1mResult #    \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWithout Rerank                                 \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWith Rerank                                   \u001b[0m\u001b[1m \u001b[0m┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│\u001b[30m \u001b[0m\u001b[30m1           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30micipants confront                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mg  environment  throughout  1997.             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maggressive pricing practices, continually      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mchanging customer demand patterns, and rapid   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     The  personal  computer  industry  is    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtechnological developments. The cautionary     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhighly  competitive  and marked by            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mstatements below discuss important factors that\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfrequent  product  introductions,  continual  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcould cause actual                             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mimprovement  in  product                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresults to differ materially from the projected\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprice/performance  characteristics  and  a    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresults contained in the forward-looking       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mlarge  number  of  competitors.               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mstatements in this report.                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mApproximately  58%  of  Compaq's  CPU sales in\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1997 were derived from products               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m    Inability to transition to direct sales    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mintroduced  in  1997.    These  new products  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcould negatively affect financial results.  In \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhave been designed to allow us to             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrecent years, the market for                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34machieve  low  product  costs while maintaining\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpersonal computers has shifted from sales      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe quality and reliability for               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthrough resellers toward direct sales to end   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwhich  our products have been known, thereby  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30musers. Compaq sells directly to end users in   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincreasing our ability to compete             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mall market sectors, but the largest proportion \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mon  price  and  value.                        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof direct sales are                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30min large enterprise accounts. Products in      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     The  significant  increase  in  sales  in\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCommercial Personal Computing are sold         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1997 stemmed primarily from an                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprimarily through third-party resellers while  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincrease  in  the  number  of  units  sold and\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts in Consumer are sold principally      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34man increase in sales of options               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthrough retail outlets. Direct                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34massociated with CPU products. In 1997,        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msales present a more efficient business model  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq's worldwide unit sales increased       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfor personal computer sales, particularly for  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m43%  while  they  increased  23%  in  1996.   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msmall and medium businesses and large          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mThe 1997 increase included a 35%              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30menterprise accounts, where customers require   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mexpansion  in  unit  sales  of  commercial    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcustom configured                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCPU  products,  a 62% increase for            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts with short delivery cycle times.      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconsumer  CPU  products  and  a  65%  increase\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq has not kept pace with changes in the   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfor  enterprise  CPU products.                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mindustry's sales and distribution model and has\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mAccording to third-party estimates, worldwide \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfaced challenges in developing and implementing\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munit sales of personal computers              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprocesses for                                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincreased  approximately  15%  to  16%  in    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30morder entry, production of individualized units\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1997,  in contrast to a 16% to 18%            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand direct distribution. Compaq has established\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincrease  in  1996.    Competition  continues \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30ma variety of programs designed to achieve these\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto have a significant impact on               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcapabilities by simplifying its product set and\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprices  of  our  products,  especially those  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpricing                                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maimed at the consumer market, and             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmodel, re-engineering the cha                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34madditional pricing actions may occur as we    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mattempt to maintain our competitive           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmix of price/performance chara                \u001b[0m\u001b[34m \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m2           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30muld be an adverse impact on                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mn  the  supplier  to  support  Compaq's       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minventory, cash, and related profitability.    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrequirements  for periods averaging 90 to 120 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mThe Company faces product                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdays. From time to time Compaq has            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransitions throughout 1996, particularly in   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mexperienced  significant  price  increases    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mits commercial desktop                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand  limited availability of certain          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand systems divisions.  In each product        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomponents  that  are  available from multiple\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransition cycle the Company                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msources. At times Compaq has been             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconfronts the challenge of managing the        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconstrained  by  parts  availability  in      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minventory of its older                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmeeting  product  orders  and  future         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts and facilitating the sale of older    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconstraints  could  have  an  adverse  effect \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq inventory held by                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mon Compaq's operating results. On             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresellers as it increases sales of newer PCs.  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moccasion,  Compaq  acquires  component        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mThe Company provides                           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minventory  in  anticipation  of  supply       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcurrently for estimated product returns and    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconstraints.  A  restoration  of component    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprice protection that may                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mavailability and resulting decline in         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moccur under programs the Company has with its  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomponent  pricing more quickly than          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcustomers and under                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34manticipated could have an adverse effect on   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfloor planning arrangements with third-party   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq's  operating  results.                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfinance companies.  The                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompany and resellers in the U.S. currently    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mMARKETING  AND  DISTRIBUTION                  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mhold substantial amounts                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof inventory of certain of the Company's       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     Compaq's  hardware products are sold to  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts.  The Company                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mlarge and medium-sized business and           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexpects anticipated selected pricing actions   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mgovernment  customers  primarily  through     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand aggressive marketing                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdealers,  value-added  resellers  and         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprograms in the first half of 1996 to raise    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msystems integrators and to small business and \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdealer sales of these                          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhome customers principally through            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts, which will facilitate product        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdealers  and  consumer  channels. In response \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransitions.  The success of                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto changing industry practices and            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthis strategy depends upon a variety of        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcustomer  preferences,  Compaq  is  continuing\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcompetitive and market factors                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mits  expansion  of  distribution              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand is subject to the other risks set forth in \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mestablishments.  Compaq  also sells hardware  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthis report.  Should                           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mproducts directly through its sales           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe Company be unable to sell its inventory of \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mforce  and  to small businesses and home      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30molder products at                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcustomers through Compaq's Internet web       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30manticipated prices or if dealers hold higher   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpage  at www.compaq.com as well as through its\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthan expected amounts of                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmail order business that features             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minventory subject to price protection at the   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m         --------------                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtime of planned price                          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34ma  variety  of  personal  computers,  printers\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mreductions, there could be a resulting adverse \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand  software  products.                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mimpact on sales, gross                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmargins, and profitability.                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCOMPAQ                                        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mReengineering Implementation.  The Company     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcontinues to expand                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmanufacturing and                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m3           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30me personal computer industry, Compaq           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34ming 35 new                                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mordinarily acquires materials and components   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mnotebook, desktop, and server computer models.\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthrough purchase orders typically              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mApproximately 36% of the                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcovering the Company's requirements for periods\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompany's CPU sales and 30% of the Company's  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maveraging 90 to 120 days.  From                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msales in 1993 were derived from               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtime to time the Company has experienced       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mproducts introduced in 1993.  These new       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msignificant price increases and                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mproducts have been designed to allow          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mlimited availability of certain components that\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe Company to achieve low product costs while\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mare available from multiple                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmaintaining the quality and                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msources, such as dynamic random-access memory  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mreliability for which the Company's products  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdevices.  In 1993 the Company was              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhave been known, thereby                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconstrained by parts availability in meeting   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincreasing the Company's ability to compete on\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproduct orders.  Any similar                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprice and value.                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moccurrences in the future could have an adverse\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30meffect on the Company's                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moperating results.                             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mPAGE 9                                        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     The Company's significant increase in    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mPAGE 3                                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconsolidated sales in 1993 stemmed            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprimarily from an increase in the number of   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mMarketing and Distribution                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munits sold.  In 1993 the Company's            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mworldwide unit shipments increased 98%, while \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     The Company distributes its products      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthey increased 78% in 1992.  The              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprincipally through third-party                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1993 increase included a 196% expansion in    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcomputer resellers.  In response to changing   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munit shipments of the Company's               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mindustry practices and customer                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtower server CPU products.  Unit growth       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpreferences, the Company is continuing its     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprimarily resulted from the Company's         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexpansion into new distribution                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maggressively priced Compaq ProLinea line in   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mchannels, such as mass merchandise stores,     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mits desktop products, the Compaq              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsumer electronics outlets, and              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mContura portable lines, and the Compaq        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcomputer superstores.  The Company's products  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mProsignia products in its tower systems.      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mare sold to large and medium-                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mThe Company believes that the personal        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msized business and government customers through\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomputer industry as a whole experienced      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdealers, value-added resellers,                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msignificant increases in unit shipments in    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand systems integrators and to small business  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1993, especially in North America,            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand home customers through                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwith industry unit growth worldwide according \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdealers, consumer channels, and beginning in   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto third party estimates                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mMarch 1993 directly through the                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincreasing approximately 20% in contrast to a \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompany's DirectPlus mail order business that  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m19% increase in 1992.  Industry               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfeatures a variety of personal                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munit growth did not translate directly into   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcomputers, printers, and software products.    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msales growth because of                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mBusiness customers account for the             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msignificantly lower unit prices.  Third-party \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mlargest portion of the Company's revenues.     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mestimates indicate that industry              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mBusiness customers are attracted to            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msales increased by approximately 16% worldw   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe Company's products for                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        }
      ],
      "source": [
        "QUERY = \"Changes in Compaq's product offerings and their impacts on sales\"\n",
        "numerical = \" and show changes greater than 30% in sales\"\n",
        "result = query_with_formatting(QUERY+numerical)\n",
        "console = Console()\n",
        "console.print(result)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "BNHWvgBdnVHQ"
      },
      "source": [
        "We can see that the rerank endpoint returns chunks that analyze sales changes in excess of 30%, whereas without reranking we don't get these figures!"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "9RXz5O4rniWb"
      },
      "source": [
        "## Negation Capabilities\n",
        "\n",
        "The Rerank endpoint is also excellent at taking exclusion requirements for returned queries into account. This is not a typical capability for LLMs, and is often cited as a hinderance for reasoning tasks.\n",
        "\n",
        "Let's try to expose this reasoning by asking about the acquisitions in Compaq history:"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 30,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/",
          "height": 1000
        },
        "id": "F09GWrIEnYdj",
        "outputId": "c9271201-a9c2-43a6-f63a-133e44eed5f1"
      },
      "outputs": [
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\"><span style=\"font-style: italic\">                            Results with query: largest acquisitions in compaq history                             </span>\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃<span style=\"font-weight: bold\"> Result #     </span>┃<span style=\"font-weight: bold\"> Without Rerank                                  </span>┃<span style=\"font-weight: bold\"> With Rerank                                    </span>┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 1            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> ggregate  purchase  price  included             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 1982, Compaq Computer Corporation (\"Compaq\")   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> approximately  $58  million representing        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> is a leading                                   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchased  technology  and  other  identifiable </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> global provider of enterprise technology and   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> intangibles  which  are being                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> solutions. Compaq designs,                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> amortized  over  a  three  year  period.  Pro   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> develops, manufactures and markets hardware,   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> forma  statements of operations                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> software, solutions and services,              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> reflecting  the acquisition of Microcom are not </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> including industry-leading enterprise          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> shown as they would not differ                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> computing solutions, fault-tolerant            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> materially  from  reported  results.            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> business-critical solutions, communciation     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> products, and desktop and portable             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> During  1995,  Compaq  acquired  two  companies </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> personal computers that are sold in more than  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> that develop, manufacture, and                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 200 countries.                                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> supply fast ethernet hubs, switches and related </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> products, and a small software                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       The following discussion should be read  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> company.  The  aggregate  purchase  price  of   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> in conjunction with the                        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> $386  million  consisted of the                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> consolidated financial statements. Certain     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> issuance  of  1.2 million shares of Compaq      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> statements contained herein may                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> common stock, $359 million in cash,             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> constitute forward-looking statements within   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of  which  $22  million  was paid in 1996, and  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the meaning of the Private                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the assumption of certain stock                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Securities Litigation Reform Act of 1995.      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> options.  The  acquisitions  were  accounted    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> These statements involve a number of           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> for  as purchases. The aggregate                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> risks, uncertainties and other factors that    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchase price included $241 million which      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> could cause actual results to differ           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> represented the value of in-process             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> materially, as discussed more fully herein.    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> technology  that  had  not  yet  reached        </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> technological feasibility and had no            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> RESULTS OF OPERATIONS                          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> alternative  future  use.  This  amount  was    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> expensed in Compaq's Consolidated               </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       Compaq completed the acquisitions of     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Statement  of  Income  during  1995. In         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Digital Equipment Corporation                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> addition, the aggregate purchase price          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"Digital\"), Shopping.Com (\"SDC\") and Zip2     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> included  $126  million  representing purchased </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Corp. (\"Zip2\") and purchased certain           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> technology, other identifiable                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> assets and liabilities of InaCom Corp.         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> intangibles  and goodwill which are being       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"Inacom\") in June 1998, February 1999,        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> amortized over a three to seven year            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> April 1999 and February 2000, respectively.    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> period.                                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> These transactions were accounted              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> for as purchases. In August 1999, Compaq sold  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> NOTE  3.    PROPERTY,  PLANT  AND  EQUIPMENT    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> a majority interest in SDC, Zip2               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and the AltaVista Company, a business acquired </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Property,  plant  and  equipment  are           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> in the Digital acquisition                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> summarized  below:                              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (collectively \"AltaVista\") to CMGI, Inc.       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"CMGI\"). Accordingly, Compaq's                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> consolidated financial statements include the  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> results of operations from the                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> respective dates of                            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Depreciation  expense  totaled  $447 million,   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> $387 million and $326 million in                </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 199                                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 2            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> n. Despite Compaq's intent to complete          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> ts                                             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the planned merger, as part of its ordinary     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> key  to  success  is leveraging Compaq's       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> course strategic planning, Compaq               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> marketing skills, engineering talent,          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> continues to consider its revenue and cost      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchasing power, manufacturing capabilities,  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> forecasts, capital resources,                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> distribution strengths and brand               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> business units' growth and contraction and      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> name  to  bring to market high-quality,        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> other forward-looking planning as a             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> cost-competitive products in different         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> stand-alone entity.                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> price  ranges  with  features  that  appeal    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to  a  wide variety of customers.              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">          In February 1999, Compaq acquired      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Shopping.Com (\"SDC\") for an aggregate           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> PENDING    AND  RECENT  ACQUISITIONS           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchase price of $257 million. In April 1999,  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq acquired Zip2 Corp.                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      On  January  26,  1998, Compaq announced  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> (\"Zip2\") for an aggregate purchase price of     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the execution of an agreement to               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> $341 million. These acquisitions                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquire  Digital  Equipment  Corporation       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> were accounted for as purchases. The            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"Digital\").  Under the terms of the           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> acquisitions of Zip2 and SDC furthered          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> transaction, shareholders of Digital will      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq's announced strategy to be a global      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> receive $30 in cash and 0.945 shares           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> leader in Internet access and                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> of  Compaq  common  stock  for each share of   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> infrastructure through superior technology,     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Digital common stock. Compaq will              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> services and partnerships. With                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> issue approximately 150 million shares of      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> these acquisitions Compaq attempted to leverage </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq common stock and $4.8 billion           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> its interest in AltaVista                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> in  cash.  This transaction will be accounted  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Company to become a leading Internet            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> for as a purchase. It is subject               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> destination site for information and            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to the approval of Digital's shareholders as   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> e-commerce.                                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> well as clearance under antitrust              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> laws  and  other customary closing conditions, </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and is expected to be completed                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> in  the  second  quarter  of  1998.            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                        2        </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">      In  August  1997,  Compaq  merged  with   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Tandem  Computers  Incorporated                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">          In August 1999, Compaq sold an 81.5    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"Tandem\")  in  a  stock-for-stock             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> percent equity interest in                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> transaction  accounted for as a pooling of     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> AltaVista Company, SDC and Zip2 (collectively   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> interests.    Tandem  provides  its  customers </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> \"AltaVista\") to CMGI, Inc.                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> with  reliable,  scaleable,                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> (\"CMGI\") for CMGI stock and other consideration </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> fault-tolerant  enterprise  computer  systems  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> totaling $1.8 billion in an                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and client/server solutions.  In               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> effort to accelerate AltaVista's move to a      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> connection  with the merger, Compaq issued     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> world-leading portal network.                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> approximately 126 million shares of            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq  common  stock,  based  upon an         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">          In February 2000, Compaq acquired      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> exchange ratio of 1.05 shares of Compaq        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> certain configuration and                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> co                                             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> distribution assets of InaCom Corp. (\"Inacom\"), </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> a provider of information                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> technology services and products, for           </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> approximately $370 million in cash and the      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> assumption of certain relat                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 3            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> nce can be given that actual results will not   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> e platforms with an established global         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> deviate from                                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> service and support team.                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> those  assumptions  in  future  periods.        </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In February 1999, Compaq acquired        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      Similarly,  the  value  assigned  to       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Shopping.Com (\"SDC\") for an aggregate          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchased  in-process  technology for           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase price of $257 million. This           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Microcom, Inc., which Compaq acquired in May    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition was accounted for as a             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 1997, was determined by identifying             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase.                                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> research  projects  in  areas  including        </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> modems, remote access technologies and          </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In April 1999, Compaq acquired Zip2      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> others,  for  which  technological  feasibility </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Corp. (\"Zip2\") for an aggregate                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> had  not  been  established;                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase price of $341 million. This           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> estimating  the  costs  to  develop  the        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition was accounted for as a             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchased  in-process  technology into          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase.                                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> commercially  viable products;  estimating  the </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> resulting  cash flows from such                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In August 1999, Compaq sold an 81.5      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> projects,  and discounting  the  net  cash      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> percent equity interest in AltaVista           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> flows back to the present value.  The           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Company (a business acquired in the Digital    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> discount  rate  included  a  factor  which      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition), SDC and Zip2                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> took  into  account  the uncertainty            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (collectively \"AltaVista\") to CMGI, Inc.       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> surrounding the successful  development  of the </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"CMGI\") for CMGI stock valued at $1.8         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchased in-process technology.                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> billion.                                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                        15       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In February 2000, Compaq acquired        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> certain configuration and distribution         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> RESTRUCTURING  AND  ASSET  IMPAIRMENT  CHARGES  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> assets of InaCom Corp. (\"Inacom\"), a provider  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> of information technology services             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      In  June  1998,  Compaq's  management      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and products, for approximately $370 million   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> approved  restructuring  plans which            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> in cash and the assumption of                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> included  initiatives to integrate operations   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> certain related liabilities. This acquisition  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of Compaq and Digital, consolidate              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> was accounted for as a purchase.               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> duplicative  facilities,  improve  service      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq subsequently established Custom Edge    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> delivery and reduce overhead.  Total            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Incorporated (also known as Compaq             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> restructuring  costs  of  approximately $1.7    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Direct) as a wholly owned subsidiary to        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> billion were recorded in the second             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> operate the assets acquired from Inacom.       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> quarter  related  to these initiatives, $1.5    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> billion of which related to Digital             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       For further information see Note 3 of    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> that  was  recorded  as a component of the      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the Notes to Consolidated Financial            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> preliminary purchase price allocation           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Statements.                                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and  $286  million  of  which  related to       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq that was charged to operations.          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> COMPAQ GLOBAL BUSINESS GROUPS                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      The  res                                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       During 2000, Compaq realigned the        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> operations of its Enterprise Solutions         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and Services segment, which resulted in the    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> formation of two reportable                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> segments: Enterprise Computing and Compaq      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Global Services. These two segments            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> accounted for 50 percent of consolidated       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> revenue                                        </span>│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n",
              "</pre>\n"
            ],
            "text/plain": [
              "\u001b[3m                            Results with query: largest acquisitions in compaq history                             \u001b[0m\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃\u001b[1m \u001b[0m\u001b[1mResult #    \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWithout Rerank                                 \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWith Rerank                                   \u001b[0m\u001b[1m \u001b[0m┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│\u001b[30m \u001b[0m\u001b[30m1           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mggregate  purchase  price  included            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m1982, Compaq Computer Corporation (\"Compaq\")  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mapproximately  $58  million representing       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mis a leading                                  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchased  technology  and  other  identifiable\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mglobal provider of enterprise technology and  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mintangibles  which  are being                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msolutions. Compaq designs,                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mamortized  over  a  three  year  period.  Pro  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdevelops, manufactures and markets hardware,  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mforma  statements of operations                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msoftware, solutions and services,             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mreflecting  the acquisition of Microcom are not\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincluding industry-leading enterprise         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mshown as they would not differ                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomputing solutions, fault-tolerant           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmaterially  from  reported  results.           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mbusiness-critical solutions, communciation    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mproducts, and desktop and portable            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mDuring  1995,  Compaq  acquired  two  companies\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpersonal computers that are sold in more than \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthat develop, manufacture, and                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m200 countries.                                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msupply fast ethernet hubs, switches and related\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mproducts, and a small software                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      The following discussion should be read \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcompany.  The  aggregate  purchase  price  of  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34min conjunction with the                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m$386  million  consisted of the                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconsolidated financial statements. Certain    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30missuance  of  1.2 million shares of Compaq     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstatements contained herein may               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcommon stock, $359 million in cash,            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconstitute forward-looking statements within  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof  which  $22  million  was paid in 1996, and \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe meaning of the Private                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe assumption of certain stock                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mSecurities Litigation Reform Act of 1995.     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moptions.  The  acquisitions  were  accounted   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mThese statements involve a number of          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfor  as purchases. The aggregate               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrisks, uncertainties and other factors that   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchase price included $241 million which     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcould cause actual results to differ          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrepresented the value of in-process            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmaterially, as discussed more fully herein.   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtechnology  that  had  not  yet  reached       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtechnological feasibility and had no           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mRESULTS OF OPERATIONS                         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30malternative  future  use.  This  amount  was   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexpensed in Compaq's Consolidated              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      Compaq completed the acquisitions of    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mStatement  of  Income  during  1995. In        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mDigital Equipment Corporation                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maddition, the aggregate purchase price         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"Digital\"), Shopping.Com (\"SDC\") and Zip2    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mincluded  $126  million  representing purchased\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCorp. (\"Zip2\") and purchased certain          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtechnology, other identifiable                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34massets and liabilities of InaCom Corp.        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mintangibles  and goodwill which are being      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"Inacom\") in June 1998, February 1999,       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mamortized over a three to seven year           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mApril 1999 and February 2000, respectively.   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mperiod.                                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mThese transactions were accounted             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfor as purchases. In August 1999, Compaq sold \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mNOTE  3.    PROPERTY,  PLANT  AND  EQUIPMENT   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34ma majority interest in SDC, Zip2              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand the AltaVista Company, a business acquired\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mProperty,  plant  and  equipment  are          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34min the Digital acquisition                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msummarized  below:                             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(collectively \"AltaVista\") to CMGI, Inc.      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"CMGI\"). Accordingly, Compaq's               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconsolidated financial statements include the \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mresults of operations from the                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrespective dates of                           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mDepreciation  expense  totaled  $447 million,  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m$387 million and $326 million in               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m199                                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m2           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mn. Despite Compaq's intent to complete         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mts                                            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe planned merger, as part of its ordinary    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mkey  to  success  is leveraging Compaq's      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcourse strategic planning, Compaq              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmarketing skills, engineering talent,         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcontinues to consider its revenue and cost     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchasing power, manufacturing capabilities, \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mforecasts, capital resources,                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdistribution strengths and brand              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mbusiness units' growth and contraction and     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mname  to  bring to market high-quality,       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mother forward-looking planning as a            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcost-competitive products in different        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mstand-alone entity.                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprice  ranges  with  features  that  appeal   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto  a  wide variety of customers.             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m         In February 1999, Compaq acquired     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mShopping.Com (\"SDC\") for an aggregate          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mPENDING    AND  RECENT  ACQUISITIONS          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchase price of $257 million. In April 1999, \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq acquired Zip2 Corp.                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     On  January  26,  1998, Compaq announced \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m(\"Zip2\") for an aggregate purchase price of    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe execution of an agreement to              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m$341 million. These acquisitions               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquire  Digital  Equipment  Corporation      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwere accounted for as purchases. The           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"Digital\").  Under the terms of the          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30macquisitions of Zip2 and SDC furthered         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtransaction, shareholders of Digital will     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq's announced strategy to be a global     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mreceive $30 in cash and 0.945 shares          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mleader in Internet access and                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mof  Compaq  common  stock  for each share of  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minfrastructure through superior technology,    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mDigital common stock. Compaq will             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mservices and partnerships. With                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34missue approximately 150 million shares of     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthese acquisitions Compaq attempted to leverage\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq common stock and $4.8 billion          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mits interest in AltaVista                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34min  cash.  This transaction will be accounted \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompany to become a leading Internet           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfor as a purchase. It is subject              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdestination site for information and           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto the approval of Digital's shareholders as  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30me-commerce.                                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwell as clearance under antitrust             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mlaws  and  other customary closing conditions,\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand is expected to be completed               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34min  the  second  quarter  of  1998.           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                       2       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m     In  August  1997,  Compaq  merged  with  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mTandem  Computers  Incorporated               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m         In August 1999, Compaq sold an 81.5   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"Tandem\")  in  a  stock-for-stock            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpercent equity interest in                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtransaction  accounted for as a pooling of    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mAltaVista Company, SDC and Zip2 (collectively  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minterests.    Tandem  provides  its  customers\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m\"AltaVista\") to CMGI, Inc.                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwith  reliable,  scaleable,                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m(\"CMGI\") for CMGI stock and other consideration\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfault-tolerant  enterprise  computer  systems \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtotaling $1.8 billion in an                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand client/server solutions.  In              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30meffort to accelerate AltaVista's move to a     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconnection  with the merger, Compaq issued    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mworld-leading portal network.                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mapproximately 126 million shares of           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq  common  stock,  based  upon an        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m         In February 2000, Compaq acquired     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mexchange ratio of 1.05 shares of Compaq       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcertain configuration and                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mco                                            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdistribution assets of InaCom Corp. (\"Inacom\"),\u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30ma provider of information                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtechnology services and products, for          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mapproximately $370 million in cash and the     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30massumption of certain relat                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m3           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mnce can be given that actual results will not  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34me platforms with an established global        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdeviate from                                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mservice and support team.                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthose  assumptions  in  future  periods.       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In February 1999, Compaq acquired       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     Similarly,  the  value  assigned  to      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mShopping.Com (\"SDC\") for an aggregate         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchased  in-process  technology for          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase price of $257 million. This          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mMicrocom, Inc., which Compaq acquired in May   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition was accounted for as a            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m1997, was determined by identifying            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase.                                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresearch  projects  in  areas  including       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmodems, remote access technologies and         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In April 1999, Compaq acquired Zip2     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mothers,  for  which  technological  feasibility\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCorp. (\"Zip2\") for an aggregate               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mhad  not  been  established;                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase price of $341 million. This          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mestimating  the  costs  to  develop  the       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition was accounted for as a            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchased  in-process  technology into         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase.                                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcommercially  viable products;  estimating  the\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mresulting  cash flows from such                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In August 1999, Compaq sold an 81.5     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprojects,  and discounting  the  net  cash     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpercent equity interest in AltaVista          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mflows back to the present value.  The          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompany (a business acquired in the Digital   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdiscount  rate  included  a  factor  which     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition), SDC and Zip2                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtook  into  account  the uncertainty           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(collectively \"AltaVista\") to CMGI, Inc.      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msurrounding the successful  development  of the\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"CMGI\") for CMGI stock valued at $1.8        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchased in-process technology.               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mbillion.                                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                       15      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In February 2000, Compaq acquired       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcertain configuration and distribution        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mRESTRUCTURING  AND  ASSET  IMPAIRMENT  CHARGES \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34massets of InaCom Corp. (\"Inacom\"), a provider \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mof information technology services            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     In  June  1998,  Compaq's  management     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand products, for approximately $370 million  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mapproved  restructuring  plans which           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34min cash and the assumption of                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mincluded  initiatives to integrate operations  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcertain related liabilities. This acquisition \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof Compaq and Digital, consolidate             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwas accounted for as a purchase.              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mduplicative  facilities,  improve  service     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq subsequently established Custom Edge   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdelivery and reduce overhead.  Total           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mIncorporated (also known as Compaq            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrestructuring  costs  of  approximately $1.7   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mDirect) as a wholly owned subsidiary to       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mbillion were recorded in the second            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moperate the assets acquired from Inacom.      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mquarter  related  to these initiatives, $1.5   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mbillion of which related to Digital            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      For further information see Note 3 of   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthat  was  recorded  as a component of the     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe Notes to Consolidated Financial           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpreliminary purchase price allocation          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mStatements.                                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand  $286  million  of  which  related to      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq that was charged to operations.         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCOMPAQ GLOBAL BUSINESS GROUPS                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     The  res                                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      During 2000, Compaq realigned the       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34moperations of its Enterprise Solutions        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand Services segment, which resulted in the   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mformation of two reportable                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34msegments: Enterprise Computing and Compaq     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mGlobal Services. These two segments           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34maccounted for 50 percent of consolidated      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrevenue                                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        }
      ],
      "source": [
        "base_query = \"largest acquisitions in compaq history\"\n",
        "result = query_with_formatting(base_query)\n",
        "console = Console()\n",
        "console.print(result)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "z0cdBg9annX2"
      },
      "source": [
        "In the above chunks, we see that Compaq acquired a lot of firms, the largest being Digital Equipment Corporation. Let's see if we can garner analysis from the 10-ks that excludes this company.\n"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 31,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/",
          "height": 1000
        },
        "id": "jikTVKGRnsT4",
        "outputId": "31d6921c-2a7b-4def-866e-36d848c6a4fd"
      },
      "outputs": [
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\"><span style=\"font-style: italic\">       Results with query: largest acquisitions in compaq history that is not Digital Equipment Corporation        </span>\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃<span style=\"font-weight: bold\"> Result #     </span>┃<span style=\"font-weight: bold\"> Without Rerank                                  </span>┃<span style=\"font-weight: bold\"> With Rerank                                    </span>┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 1            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> ts                                              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> e platforms with an established global         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> key  to  success  is leveraging Compaq's        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> service and support team.                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> marketing skills, engineering talent,           </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchasing power, manufacturing capabilities,   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In February 1999, Compaq acquired        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> distribution strengths and brand                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Shopping.Com (\"SDC\") for an aggregate          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> name  to  bring to market high-quality,         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase price of $257 million. This           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> cost-competitive products in different          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition was accounted for as a             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> price  ranges  with  features  that  appeal  to </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase.                                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> a  wide variety of customers.                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In April 1999, Compaq acquired Zip2      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> PENDING    AND  RECENT  ACQUISITIONS            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Corp. (\"Zip2\") for an aggregate                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase price of $341 million. This           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      On  January  26,  1998, Compaq announced   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition was accounted for as a             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the execution of an agreement to                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase.                                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> acquire  Digital  Equipment  Corporation        </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> (\"Digital\").  Under the terms of the            </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In August 1999, Compaq sold an 81.5      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transaction, shareholders of Digital will       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> percent equity interest in AltaVista           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> receive $30 in cash and 0.945 shares            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Company (a business acquired in the Digital    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> of  Compaq  common  stock  for each share of    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition), SDC and Zip2                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Digital common stock. Compaq will               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (collectively \"AltaVista\") to CMGI, Inc.       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> issue approximately 150 million shares of       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"CMGI\") for CMGI stock valued at $1.8         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq common stock and $4.8 billion            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> billion.                                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> in  cash.  This transaction will be accounted   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> for as a purchase. It is subject                </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In February 2000, Compaq acquired        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> to the approval of Digital's shareholders as    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> certain configuration and distribution         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> well as clearance under antitrust               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> assets of InaCom Corp. (\"Inacom\"), a provider  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> laws  and  other customary closing conditions,  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> of information technology services             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and is expected to be completed                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and products, for approximately $370 million   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> in  the  second  quarter  of  1998.             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> in cash and the assumption of                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> certain related liabilities. This acquisition  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> was accounted for as a purchase.               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      In  August  1997,  Compaq  merged  with    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq subsequently established Custom Edge    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Tandem  Computers  Incorporated                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Incorporated (also known as Compaq             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> (\"Tandem\")  in  a  stock-for-stock  transaction </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Direct) as a wholly owned subsidiary to        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> accounted for as a pooling of                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> operate the assets acquired from Inacom.       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> interests.    Tandem  provides  its  customers  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> with  reliable,  scaleable,                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       For further information see Note 3 of    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> fault-tolerant  enterprise  computer  systems   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the Notes to Consolidated Financial            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and client/server solutions.  In                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Statements.                                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> connection  with the merger, Compaq issued      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> approximately 126 million shares of             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> COMPAQ GLOBAL BUSINESS GROUPS                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq  common  stock,  based  upon an exchange </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> ratio of 1.05 shares of Compaq                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       During 2000, Compaq realigned the        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> co                                              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> operations of its Enterprise Solutions         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and Services segment, which resulted in the    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> formation of two reportable                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> segments: Enterprise Computing and Compaq      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Global Services. These two segments            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> accounted for 50 percent of consolidated       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> revenue                                        </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 2            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> -tolerant business-critical solutions,          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> n. Despite Compaq's intent to complete         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> networking and communication products,          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the planned merger, as part of its ordinary    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> commercial desktop and portable products and    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> course strategic planning, Compaq              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consumer PCs for the NonStop™ Internet world.   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> continues to consider its revenue and cost     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> forecasts, capital resources,                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> business units' growth and contraction and     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">     Compaq                                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> other forward-looking planning as a            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> completed the acquisition of Digital Equipment  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> stand-alone entity.                            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Corporation (\"Digital\"), Shopping.Com (\"SDC\")   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and Zip2 Corp. (\"Zip2\") in June 1998, February  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">          In February 1999, Compaq acquired     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 1999 and                                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Shopping.Com (\"SDC\") for an aggregate          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> April 1999, respectively. These acquisitions    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase price of $257 million. In April 1999, </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> were accounted for as purchases. In August      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq acquired Zip2 Corp.                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 1999, Compaq sold a majority interest in        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"Zip2\") for an aggregate purchase price of    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> AltaVista Company (a business acquired in the   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> $341 million. These acquisitions               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Digital                                         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> were accounted for as purchases. The           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> acquisition), SDC and Zip2 (collectively        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisitions of Zip2 and SDC furthered         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> \"AltaVista\"), to CMGI, Inc. (\"CMGI\").           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq's announced strategy to be a global     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Accordingly, Compaq's consolidated financial    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> leader in Internet access and                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> statements include the results of operations    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> infrastructure through superior technology,    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and the estimated fair                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> services and partnerships. With                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> values of the assets acquired and liabilities   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> these acquisitions Compaq attempted to         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> assumed from the respective dates of            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> leverage its interest in AltaVista             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> acquisition through divestiture or December 31, </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Company to become a leading Internet           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 1999, as applicable.                            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> destination site for information and           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> e-commerce.                                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">     Compaq                                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> completed the acquisition of Tandem Computers   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Incorporated (\"Tandem\") in August 1997. This    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> acquisition was accounted for as a pooling of   </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                        2       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> interests, consequently, the                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> financial information for 1997 has been         </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> restated to reflect the merger with Tandem.     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">          In August 1999, Compaq sold an 81.5   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> percent equity interest in                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">     Principles of consolidation.  The           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> AltaVista Company, SDC and Zip2 (collectively  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consolidated financial statements include the   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> \"AltaVista\") to CMGI, Inc.                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> accounts of Compaq and its subsidiaries.        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"CMGI\") for CMGI stock and other              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> All significant intercompany transactions and   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> consideration totaling $1.8 billion in an      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> balances have been eliminated.                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> effort to accelerate AltaVista's move to a     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> world-leading portal network.                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">     Use of estimates.  The preparat             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">          In February 2000, Compaq acquired     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> certain configuration and                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> distribution assets of InaCom Corp.            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> (\"Inacom\"), a provider of information          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> technology services and products, for          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> approximately $370 million in cash and the     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> assumption of certain relat                    </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 3            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> n. Despite Compaq's intent to complete          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> ssets sold and for the expenses associated     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the planned merger, as part of its ordinary     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> with the                                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> course strategic planning, Compaq               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> divestiture, Compaq realized a gain of         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> continues to consider its revenue and cost      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> approximately $1.2 billion ($670 million,      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> forecasts, capital resources,                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> net of tax). Compaq accounts for its minority  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> business units' growth and contraction and      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> investments in CMGI and AltaVista              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> other forward-looking planning as a             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> under the cost method. All CMGI share          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> stand-alone entity.                             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> information reflects CMGI's two-for-one        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> stock split, effective January 2000.           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">          In February 1999, Compaq acquired      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Shopping.Com (\"SDC\") for an aggregate           </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In April 1999, Compaq acquired Zip2 for  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> purchase price of $257 million. In April 1999,  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> an aggregate purchase price of                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq acquired Zip2 Corp.                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> $341 million consisting of $307 million in     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> (\"Zip2\") for an aggregate purchase price of     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> cash, the issuance of employee stock           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> $341 million. These acquisitions                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> options to purchase AltaVista stock with a     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> were accounted for as purchases. The            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> fair value of $28 million and other            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> acquisitions of Zip2 and SDC furthered          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition costs. In February 1999, Compaq    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq's announced strategy to be a global      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquired SDC for an aggregate                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> leader in Internet access and                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase price of $257 million consisting of   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> infrastructure through superior technology,     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> $219 million in cash, the issuance             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> services and partnerships. With                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> of employee stock options to purchase Compaq   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> these acquisitions Compaq attempted to leverage </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> stock with a fair value of $32                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> its interest in AltaVista                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> million and other acquisition costs. These     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Company to become a leading Internet            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> transactions were accounted for as             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> destination site for information and            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchases.                                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> e-commerce.                                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\">       In June 1998, Compaq consummated its     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition of Digital for an                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> aggregate purchase price of $9.1 billion. The  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase price consisted of                    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                        2        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> approximately $4.5 billion in cash, the        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> issuance of approximately 141 million          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> shares of Compaq common stock valued at        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">          In August 1999, Compaq sold an 81.5    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> approximately $4.3 billion and the             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> percent equity interest in                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> issuance of approximately 25 million options   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> AltaVista Company, SDC and Zip2 (collectively   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to purchase Compaq common stock                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> \"AltaVista\") to CMGI, Inc.                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> valued at approximately $249 million. This     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> (\"CMGI\") for CMGI stock and other consideration </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> acquisition was accounted for as a             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> totaling $1.8 billion in an                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> purchase. The unaudited consolidated pro forma </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> effort to accelerate AltaVista's move to a      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> information for 1998 as if Compaq              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> world-leading portal network.                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and Digital had been combined as of the        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> beginning of 1998 included revenue and         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">          In February 2000, Compaq acquired      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> certain configuration and                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> distribution assets of InaCom Corp. (\"Inacom\"), </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> a provider of information                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> technology services and products, for           </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> approximately $370 million in cash and the      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> assumption of certain relat                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n",
              "</pre>\n"
            ],
            "text/plain": [
              "\u001b[3m       Results with query: largest acquisitions in compaq history that is not Digital Equipment Corporation        \u001b[0m\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃\u001b[1m \u001b[0m\u001b[1mResult #    \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWithout Rerank                                 \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWith Rerank                                   \u001b[0m\u001b[1m \u001b[0m┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│\u001b[30m \u001b[0m\u001b[30m1           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mts                                             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34me platforms with an established global        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mkey  to  success  is leveraging Compaq's       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mservice and support team.                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmarketing skills, engineering talent,          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchasing power, manufacturing capabilities,  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In February 1999, Compaq acquired       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdistribution strengths and brand               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mShopping.Com (\"SDC\") for an aggregate         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mname  to  bring to market high-quality,        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase price of $257 million. This          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcost-competitive products in different         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition was accounted for as a            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprice  ranges  with  features  that  appeal  to\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase.                                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30ma  wide variety of customers.                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In April 1999, Compaq acquired Zip2     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mPENDING    AND  RECENT  ACQUISITIONS           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCorp. (\"Zip2\") for an aggregate               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase price of $341 million. This          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     On  January  26,  1998, Compaq announced  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition was accounted for as a            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe execution of an agreement to               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase.                                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30macquire  Digital  Equipment  Corporation       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m(\"Digital\").  Under the terms of the           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In August 1999, Compaq sold an 81.5     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransaction, shareholders of Digital will      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpercent equity interest in AltaVista          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mreceive $30 in cash and 0.945 shares           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompany (a business acquired in the Digital   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mof  Compaq  common  stock  for each share of   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition), SDC and Zip2                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mDigital common stock. Compaq will              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(collectively \"AltaVista\") to CMGI, Inc.      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30missue approximately 150 million shares of      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"CMGI\") for CMGI stock valued at $1.8        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq common stock and $4.8 billion           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mbillion.                                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30min  cash.  This transaction will be accounted  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfor as a purchase. It is subject               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In February 2000, Compaq acquired       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mto the approval of Digital's shareholders as   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcertain configuration and distribution        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwell as clearance under antitrust              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34massets of InaCom Corp. (\"Inacom\"), a provider \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mlaws  and  other customary closing conditions, \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mof information technology services            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand is expected to be completed                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand products, for approximately $370 million  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30min  the  second  quarter  of  1998.            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34min cash and the assumption of                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcertain related liabilities. This acquisition \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwas accounted for as a purchase.              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     In  August  1997,  Compaq  merged  with   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq subsequently established Custom Edge   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mTandem  Computers  Incorporated                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mIncorporated (also known as Compaq            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m(\"Tandem\")  in  a  stock-for-stock  transaction\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mDirect) as a wholly owned subsidiary to       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maccounted for as a pooling of                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moperate the assets acquired from Inacom.      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minterests.    Tandem  provides  its  customers \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwith  reliable,  scaleable,                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      For further information see Note 3 of   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfault-tolerant  enterprise  computer  systems  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe Notes to Consolidated Financial           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand client/server solutions.  In               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mStatements.                                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconnection  with the merger, Compaq issued     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mapproximately 126 million shares of            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCOMPAQ GLOBAL BUSINESS GROUPS                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq  common  stock,  based  upon an exchange\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mratio of 1.05 shares of Compaq                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      During 2000, Compaq realigned the       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mco                                             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moperations of its Enterprise Solutions        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand Services segment, which resulted in the   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mformation of two reportable                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34msegments: Enterprise Computing and Compaq     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mGlobal Services. These two segments           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34maccounted for 50 percent of consolidated      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrevenue                                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m2           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30m-tolerant business-critical solutions,         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mn. Despite Compaq's intent to complete        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mnetworking and communication products,         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe planned merger, as part of its ordinary   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcommercial desktop and portable products and   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcourse strategic planning, Compaq             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsumer PCs for the NonStop™ Internet world.  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcontinues to consider its revenue and cost    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mforecasts, capital resources,                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mbusiness units' growth and contraction and    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m    Compaq                                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mother forward-looking planning as a           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcompleted the acquisition of Digital Equipment \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstand-alone entity.                           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCorporation (\"Digital\"), Shopping.Com (\"SDC\")  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand Zip2 Corp. (\"Zip2\") in June 1998, February \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m         In February 1999, Compaq acquired    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m1999 and                                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mShopping.Com (\"SDC\") for an aggregate         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mApril 1999, respectively. These acquisitions   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase price of $257 million. In April 1999,\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwere accounted for as purchases. In August     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq acquired Zip2 Corp.                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m1999, Compaq sold a majority interest in       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"Zip2\") for an aggregate purchase price of   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mAltaVista Company (a business acquired in the  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m$341 million. These acquisitions              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mDigital                                        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwere accounted for as purchases. The          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30macquisition), SDC and Zip2 (collectively       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisitions of Zip2 and SDC furthered        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m\"AltaVista\"), to CMGI, Inc. (\"CMGI\").          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq's announced strategy to be a global    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mAccordingly, Compaq's consolidated financial   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mleader in Internet access and                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mstatements include the results of operations   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minfrastructure through superior technology,   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand the estimated fair                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mservices and partnerships. With               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mvalues of the assets acquired and liabilities  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthese acquisitions Compaq attempted to        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30massumed from the respective dates of           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mleverage its interest in AltaVista            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30macquisition through divestiture or December 31,\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompany to become a leading Internet          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m1999, as applicable.                           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdestination site for information and          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34me-commerce.                                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m    Compaq                                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcompleted the acquisition of Tandem Computers  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mIncorporated (\"Tandem\") in August 1997. This   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30macquisition was accounted for as a pooling of  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                       2      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minterests, consequently, the                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfinancial information for 1997 has been        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrestated to reflect the merger with Tandem.    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m         In August 1999, Compaq sold an 81.5  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpercent equity interest in                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m    Principles of consolidation.  The          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mAltaVista Company, SDC and Zip2 (collectively \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsolidated financial statements include the  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m\"AltaVista\") to CMGI, Inc.                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maccounts of Compaq and its subsidiaries.       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"CMGI\") for CMGI stock and other             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mAll significant intercompany transactions and  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconsideration totaling $1.8 billion in an     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mbalances have been eliminated.                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34meffort to accelerate AltaVista's move to a    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mworld-leading portal network.                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m    Use of estimates.  The preparat            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34m         In February 2000, Compaq acquired    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcertain configuration and                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdistribution assets of InaCom Corp.           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34m(\"Inacom\"), a provider of information         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtechnology services and products, for         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mapproximately $370 million in cash and the    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34massumption of certain relat                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m3           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mn. Despite Compaq's intent to complete         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mssets sold and for the expenses associated    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe planned merger, as part of its ordinary    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mwith the                                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcourse strategic planning, Compaq              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdivestiture, Compaq realized a gain of        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcontinues to consider its revenue and cost     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mapproximately $1.2 billion ($670 million,     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mforecasts, capital resources,                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mnet of tax). Compaq accounts for its minority \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mbusiness units' growth and contraction and     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minvestments in CMGI and AltaVista             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mother forward-looking planning as a            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munder the cost method. All CMGI share         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mstand-alone entity.                            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minformation reflects CMGI's two-for-one       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstock split, effective January 2000.          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m         In February 1999, Compaq acquired     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mShopping.Com (\"SDC\") for an aggregate          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In April 1999, Compaq acquired Zip2 for \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpurchase price of $257 million. In April 1999, \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34man aggregate purchase price of                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq acquired Zip2 Corp.                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m$341 million consisting of $307 million in    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m(\"Zip2\") for an aggregate purchase price of    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcash, the issuance of employee stock          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m$341 million. These acquisitions               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moptions to purchase AltaVista stock with a    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwere accounted for as purchases. The           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfair value of $28 million and other           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30macquisitions of Zip2 and SDC furthered         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition costs. In February 1999, Compaq   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq's announced strategy to be a global     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquired SDC for an aggregate                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mleader in Internet access and                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase price of $257 million consisting of  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minfrastructure through superior technology,    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m$219 million in cash, the issuance            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mservices and partnerships. With                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mof employee stock options to purchase Compaq  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthese acquisitions Compaq attempted to leverage\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstock with a fair value of $32                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mits interest in AltaVista                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmillion and other acquisition costs. These    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompany to become a leading Internet           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtransactions were accounted for as            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdestination site for information and           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchases.                                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30me-commerce.                                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m      In June 1998, Compaq consummated its    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition of Digital for an                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maggregate purchase price of $9.1 billion. The \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase price consisted of                   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                       2       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mapproximately $4.5 billion in cash, the       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34missuance of approximately 141 million         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mshares of Compaq common stock valued at       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m         In August 1999, Compaq sold an 81.5   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mapproximately $4.3 billion and the            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpercent equity interest in                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34missuance of approximately 25 million options  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mAltaVista Company, SDC and Zip2 (collectively  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto purchase Compaq common stock               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m\"AltaVista\") to CMGI, Inc.                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mvalued at approximately $249 million. This    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m(\"CMGI\") for CMGI stock and other consideration\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34macquisition was accounted for as a            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtotaling $1.8 billion in an                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpurchase. The unaudited consolidated pro forma\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30meffort to accelerate AltaVista's move to a     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minformation for 1998 as if Compaq             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mworld-leading portal network.                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand Digital had been combined as of the       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mbeginning of 1998 included revenue and        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m         In February 2000, Compaq acquired     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcertain configuration and                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdistribution assets of InaCom Corp. (\"Inacom\"),\u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30ma provider of information                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtechnology services and products, for          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mapproximately $370 million in cash and the     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30massumption of certain relat                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m                                                \u001b[0m│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        }
      ],
      "source": [
        "negation = \" that is not Digital Equipment Corporation\"\n",
        "result = query_with_formatting(base_query + negation)\n",
        "console = Console()\n",
        "console.print(result)"
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "x9uf-E7wnziH"
      },
      "source": [
        "Interestingly , the returned chunks exclude the purchase of Digital in 1998 when using the reranker, whereas without the reranker we maintain references to Digital Equipment Corporation.\n",
        "\n",
        "Although this may depend generally on chunking strategy, and the content of text being written about, we can still cleanly demonstrate this behavior without knowing exactly what chunks contain which information."
      ]
    },
    {
      "cell_type": "markdown",
      "metadata": {
        "id": "mrfzNPKAn3c-"
      },
      "source": [
        "## Temporal Reasoning\n",
        "\n",
        "The Rerank endpoint is great at using times, dates, and other forms of temporal information in refining results.\n",
        "\n",
        "Here, we specify products sold in 1999, despite not explicitly filtering on 1999 10-Ks in metadata!"
      ]
    },
    {
      "cell_type": "code",
      "execution_count": 32,
      "metadata": {
        "colab": {
          "base_uri": "https://localhost:8080/",
          "height": 1000
        },
        "id": "0mExwjePn5Qi",
        "outputId": "cdbda800-ed4f-4db8-a758-74d08a15cf1b"
      },
      "outputs": [
        {
          "data": {
            "text/html": [
              "<pre style=\"white-space:pre;overflow-x:auto;line-height:normal;font-family:Menlo,'DejaVu Sans Mono',consolas,'Courier New',monospace\"><span style=\"font-style: italic\">               Results with query: Consumer products that compaq started selling in 1999 and beyond                </span>\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃<span style=\"font-weight: bold\"> Result #     </span>┃<span style=\"font-weight: bold\"> Without Rerank                                  </span>┃<span style=\"font-weight: bold\"> With Rerank                                    </span>┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 1            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> ces  (DSS)  and  E-commerce  solutions.    We   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> orage                                          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> will build on our                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> solutions through the development and delivery </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> leadership  position  in  storage by offering   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> of StorageWorks(TM) by Compaq                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> our customers new Fibre Channel,                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> storage area networks, automated backup        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> DLT  library  and  Enterprise  storage          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> solutions, network attached storage and        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> solutions that will allow them to build         </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> a complete suite of SANworks(TM) by Compaq     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> highly  available,  scalable  storage networks. </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> storage management solutions. Network          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> In workstations, we expect to                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> attached storage means storage devices         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> expand  our  segment  solutions as well as      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> connected to a network of computers that       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> introduce new products offering the             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> store and deliver information to computers in  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> latest  graphic  and  high-performance          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the network. Enterprise Computing              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> computing  technologies.                        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> accounted for approximately 32 percent, 34     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> percent and 34 percent of Compaq's             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">      Consumer  Products  Group.    In 1997, the </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> consolidated revenue in 2001, 2000 and 1999,   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Consumer Products Group, which                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> respectively.                                  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> markets  computers  and  related options aimed  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> at the consumer and home office                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> ACCESS. The Access segment delivers products   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> market,  accounted  for 16% of Compaq's sales.  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and solutions designed to provide              </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> In 1997, Compaq introduced its                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> home and business users with anytime, anywhere </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> spring  lineup  of home multimedia PCs that     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> access to information,                         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> included the Presario 2000 series,              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> communication and entertainment. For the       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the  first series of products in the market to  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> business customer, the Access segment          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> combine leading-edge technology                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> offers a broad range of innovative commercial  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> at  prices  below  $1000.   In June, Compaq     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> computing devices, services and                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> expanded its consumer line in many              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> solutions. These include desktop, notebook,    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> significant  ways,  incorporating  the  latest  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> workstation and thin client products           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> processor technologies with new                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> marketed under the Evo(TM), DeskPro(TM),       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> low-cost  form  factors,  easy  internet        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Armada(TM) and other brands, as well as        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> access  capabilities,  DVD-ROM                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> a full line of Compaq branded monitor and      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> capabilities,  and a creativity imaging center  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> networking products - all designed to          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> that supports video and digital                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> help customers simplify their business         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> image  capture,  editing  and communications.   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> computing environments. For the consumer       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq also expanded its line of                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> customer, the Access segment offers a wide     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> home  notebook  PCs with the latest processor   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> range of innovative products and               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and screen technologies enhanced                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> technologies that all work together to help    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> with  multimedia  applications  and             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the home or home office user                   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consumer-oriented  CD  playback features,       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> simplify their life, connect their world and   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> marketed  as  DisqPlay.   The combination of    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> have fun. These include                        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> innovative portables and low cost               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Presario(TM) branded desktop and notebook      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> high  technology  desktop  produ                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Internet PCs and a line of monitors            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and printers sold under the Compaq             </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 2            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> fited from high unit growth driven by strong    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> stom                                           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consumer demand, partially                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> configuration capabilities and direct          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> offset by a decline in average unit prices.     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> fulfillment logistics that enable Compaq       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Component costs continued to                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> to better meet customer needs in North         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> decline, which allowed Compaq to reach lower    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> America. Higher unit sales of 27 percent       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> price points, thus spurring                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> in home and office desktops and notebooks also </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consumer demand. An increase in international   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> contributed to revenue growth in               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> sales also drove total revenue                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 2000 compared with 1999 although consumer      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> higher, particularly in Latin America and       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> sales late in 2000 were hampered by            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Asia-Pacific. Higher revenue from               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the lack of a seasonal uplift in sales.        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Internet access and traffic benefited the       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Revenues benefited from strong                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Consumer segment in 1999.                       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> international sales growth, particularly in    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Asia-Pacific and Latin America.                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">       Consumer operating income declined $92    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Access revenue represented 45 percent, 49      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> million, or 35 percent, in 2000                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> percent and 47 percent of consolidated         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> compared with the prior year. The decline in    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> revenue in 2001, 2000 and 1999, respectively.  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> operating income was primarily due              </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> to a downturn in the U.S. consumer PC market    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> that occurred late in the fourth                </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> quarter of 2000. Higher component costs also    </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> contributed to lower operating                  </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                        21      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> income. Operating expenses were relatively      </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> unchanged as a percentage of revenue.           </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Consumer operating income increased $79         </span>│<span style=\"color: #000080; text-decoration-color: #000080\">          The Access segment incurred an        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> million, or 43 percent, in 1999 compared        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> operating loss of $587 million during          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> with 1998. The increase in operating income was </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> 2001 compared with operating income of $145    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> attributable to higher revenue,                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> million in 2000 as lower gross                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> which resulted in higher gross margin in        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> margins more than offset improvements in       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> absolute dollars, and slightly lower            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> operating expense and cost structure.          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> operating expenses as a percentage of revenue.  </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Segment gross margins declined 3 percentage    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> points compared with 2000 due to               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                        15       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> aggressive pricing and weak economic           </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> conditions. Compaq was able to partially       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> CORPORATE AND UNALLOCATED SHARED EXPENSES       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> mitigate the downward pressure on margins by   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> increasing its direct sales mix 12             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">       The results of the business segments      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> percentage points in North America and         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> exclude separately managed corporate            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> introducing a simplified new product line      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and unallocated shared expenses, which          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> centered around the Evo family of personal     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> consisted primarily of general and              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> computing products targeted at                 </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> administrative costs as well as other items not </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> corporate customers. The new Evo product       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> controlled by the business                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> family uses simplified form factors and        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> segments. Corporate and unallocated shared      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> common components to lower overall unit cost.  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> expenses declined from                          </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Operating expense in 2001                      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> decreased $298 million, or 14 percent,         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> primarily due to cost reductions               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> following                                      </span>│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\"> 3            </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> q Computer Corporation, together with           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> nd is the leading integrator of Microsoft      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> its consolidated subsidiaries, (collectively    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Exchange, with more than 400 major             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> \"Compaq\") designs, develops,                    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> accounts worldwide. Compaq also has been       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> manufactures and markets information technology </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> designated as a preferred service provider by  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> equipment, software, services                   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Computer Associates International, Inc.        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> and solutions, including industry-leading       </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> enterprise storage and computing                </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> solutions, fault-tolerant business-critical     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">     Compaq                                     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> solutions, communication products,              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> provides warranty support to its customers     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> personal desktop and notebook computers, and    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> through its own service organization, as well  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> personal entertainment and Internet             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> as through full-service resellers and          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> access devices that are sold in more than 200   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> independent service companies. In addition to  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> countries.                                      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> the                                            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> support associated with product warranties,    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">          Compaq completed the acquisition of    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq offers a broad range of support         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Shopping.Com (\"SDC\") and Zip2 Corp.             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> services designed to maximize system uptime    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> (\"Zip2\") and purchased certain assets and       </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and optimize system performance.               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> liabilities of InaCom Corp. (\"Inacom\")          </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> in February 1999, April 1999 and February 2000, </span>│<span style=\"color: #000080; text-decoration-color: #000080\">     Commercial Personal Computing (\"CPC\").     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> respectively. These acquisitions                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> CPC designs, develops, manufactures and        </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> were accounted for as purchases. In August      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> markets a broad                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 1999, Compaq sold an 81.5 percent               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> line of standards-based computing products     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> equity interest in AltaVista Company to CMGI,   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> emphasizing Internet access through            </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Inc. (\"CMGI\"). Accordingly,                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> workstations, desktops, portables, monitors,   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> Compaq's consolidated financial statements      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Internet access devices and life-cycle         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> include the results of operations               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> management products. CPC                       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> from the respective dates of acquisition        </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> markets products                               </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> through divestiture or December 31,             </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> 2001, as applicable.                            </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> under such brands as Deskpro™ desktops and     </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Armada™ portables for commercial businesses,   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> PRINCIPLES OF CONSOLIDATION. The consolidated   </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Prosignia desktops and portables for small and </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> financial statements include the                </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> growing businesses, Deskpro and                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> accounts of Compaq and its controlled           </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Professional workstations, Aero™ handhelds,    </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> subsidiaries. All significant intercompany      </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> and Compaq iPAQ Internet devices. CPC          </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> transactions and balances have been eliminated. </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> accounted for approximately 32 percent of      </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Compaq's consolidated revenue in 1999.         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> CRITICAL ACCOUNTING POLICIES AND ESTIMATES. The </span>│<span style=\"color: #000080; text-decoration-color: #000080\">                                                </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> preparation of consolidated                     </span>│<span style=\"color: #000080; text-decoration-color: #000080\">     As                                         </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> financial statements requires Compaq to make    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> an element of Compaq's strategy to re-define   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> estimates and judgments that affect             </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Internet access with innovative products and   </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> the reported amounts of assets, liabilities,    </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> services, CPC introduced the iPAQ legacy-free  </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> revenues and expenses, and related              </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> Internet device in                             </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\"> d                                               </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> late 1999. The uniquely designed iPAQ is       </span>│\n",
              "│<span style=\"color: #000000; text-decoration-color: #000000\">              </span>│<span style=\"color: #000000; text-decoration-color: #000000\">                                                 </span>│<span style=\"color: #000080; text-decoration-color: #000080\"> targeted f                                     </span>│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n",
              "</pre>\n"
            ],
            "text/plain": [
              "\u001b[3m               Results with query: Consumer products that compaq started selling in 1999 and beyond                \u001b[0m\n",
              "┏━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┳━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┓\n",
              "┃\u001b[1m \u001b[0m\u001b[1mResult #    \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWithout Rerank                                 \u001b[0m\u001b[1m \u001b[0m┃\u001b[1m \u001b[0m\u001b[1mWith Rerank                                   \u001b[0m\u001b[1m \u001b[0m┃\n",
              "┡━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━╇━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━━┩\n",
              "│\u001b[30m \u001b[0m\u001b[30m1           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mces  (DSS)  and  E-commerce  solutions.    We  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34morage                                         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwill build on our                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msolutions through the development and delivery\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mleadership  position  in  storage by offering  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mof StorageWorks(TM) by Compaq                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mour customers new Fibre Channel,               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstorage area networks, automated backup       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mDLT  library  and  Enterprise  storage         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msolutions, network attached storage and       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msolutions that will allow them to build        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34ma complete suite of SANworks(TM) by Compaq    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mhighly  available,  scalable  storage networks.\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstorage management solutions. Network         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mIn workstations, we expect to                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mattached storage means storage devices        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexpand  our  segment  solutions as well as     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconnected to a network of computers that      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mintroduce new products offering the            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstore and deliver information to computers in \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mlatest  graphic  and  high-performance         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe network. Enterprise Computing             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcomputing  technologies.                       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maccounted for approximately 32 percent, 34    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpercent and 34 percent of Compaq's            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m     Consumer  Products  Group.    In 1997, the\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconsolidated revenue in 2001, 2000 and 1999,  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mConsumer Products Group, which                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrespectively.                                 \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmarkets  computers  and  related options aimed \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mat the consumer and home office                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mACCESS. The Access segment delivers products  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmarket,  accounted  for 16% of Compaq's sales. \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand solutions designed to provide             \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mIn 1997, Compaq introduced its                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhome and business users with anytime, anywhere\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mspring  lineup  of home multimedia PCs that    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maccess to information,                        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mincluded the Presario 2000 series,             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcommunication and entertainment. For the      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe  first series of products in the market to \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mbusiness customer, the Access segment         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcombine leading-edge technology                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moffers a broad range of innovative commercial \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mat  prices  below  $1000.   In June, Compaq    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomputing devices, services and               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexpanded its consumer line in many             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msolutions. These include desktop, notebook,   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msignificant  ways,  incorporating  the  latest \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mworkstation and thin client products          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprocessor technologies with new                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmarketed under the Evo(TM), DeskPro(TM),      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mlow-cost  form  factors,  easy  internet       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mArmada(TM) and other brands, as well as       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maccess  capabilities,  DVD-ROM                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34ma full line of Compaq branded monitor and     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcapabilities,  and a creativity imaging center \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mnetworking products - all designed to         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthat supports video and digital                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhelp customers simplify their business        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mimage  capture,  editing  and communications.  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomputing environments. For the consumer      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq also expanded its line of               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcustomer, the Access segment offers a wide    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mhome  notebook  PCs with the latest processor  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrange of innovative products and              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand screen technologies enhanced               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtechnologies that all work together to help   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwith  multimedia  applications  and            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe home or home office user                  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsumer-oriented  CD  playback features,      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msimplify their life, connect their world and  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmarketed  as  DisqPlay.   The combination of   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mhave fun. These include                       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minnovative portables and low cost              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mPresario(TM) branded desktop and notebook     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mhigh  technology  desktop  produ               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mInternet PCs and a line of monitors           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand printers sold under the Compaq            \u001b[0m\u001b[34m \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m2           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfited from high unit growth driven by strong   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mstom                                          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsumer demand, partially                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconfiguration capabilities and direct         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moffset by a decline in average unit prices.    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfulfillment logistics that enable Compaq      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mComponent costs continued to                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mto better meet customer needs in North        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mdecline, which allowed Compaq to reach lower   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mAmerica. Higher unit sales of 27 percent      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mprice points, thus spurring                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34min home and office desktops and notebooks also\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsumer demand. An increase in international  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcontributed to revenue growth in              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msales also drove total revenue                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m2000 compared with 1999 although consumer     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mhigher, particularly in Latin America and      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msales late in 2000 were hampered by           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mAsia-Pacific. Higher revenue from              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe lack of a seasonal uplift in sales.       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mInternet access and traffic benefited the      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mRevenues benefited from strong                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mConsumer segment in 1999.                      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34minternational sales growth, particularly in   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mAsia-Pacific and Latin America.               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m      Consumer operating income declined $92   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mAccess revenue represented 45 percent, 49     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmillion, or 35 percent, in 2000                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpercent and 47 percent of consolidated        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcompared with the prior year. The decline in   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mrevenue in 2001, 2000 and 1999, respectively. \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moperating income was primarily due             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mto a downturn in the U.S. consumer PC market   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthat occurred late in the fourth               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mquarter of 2000. Higher component costs also   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcontributed to lower operating                 \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                       21     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mincome. Operating expenses were relatively     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30munchanged as a percentage of revenue.          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mConsumer operating income increased $79        \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m         The Access segment incurred an       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmillion, or 43 percent, in 1999 compared       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moperating loss of $587 million during         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwith 1998. The increase in operating income was\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m2001 compared with operating income of $145   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mattributable to higher revenue,                \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmillion in 2000 as lower gross                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwhich resulted in higher gross margin in       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmargins more than offset improvements in      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mabsolute dollars, and slightly lower           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34moperating expense and cost structure.         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30moperating expenses as a percentage of revenue. \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mSegment gross margins declined 3 percentage   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpoints compared with 2000 due to              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                       15      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maggressive pricing and weak economic          \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mconditions. Compaq was able to partially      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCORPORATE AND UNALLOCATED SHARED EXPENSES      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmitigate the downward pressure on margins by  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mincreasing its direct sales mix 12            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m      The results of the business segments     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mpercentage points in North America and        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexclude separately managed corporate           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mintroducing a simplified new product line     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand unallocated shared expenses, which         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcentered around the Evo family of personal    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mconsisted primarily of general and             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcomputing products targeted at                \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30madministrative costs as well as other items not\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcorporate customers. The new Evo product      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcontrolled by the business                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfamily uses simplified form factors and       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msegments. Corporate and unallocated shared     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mcommon components to lower overall unit cost. \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mexpenses declined from                         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mOperating expense in 2001                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdecreased $298 million, or 14 percent,        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprimarily due to cost reductions              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mfollowing                                     \u001b[0m\u001b[34m \u001b[0m│\n",
              "├──────────────┼─────────────────────────────────────────────────┼────────────────────────────────────────────────┤\n",
              "│\u001b[30m \u001b[0m\u001b[30m3           \u001b[0m\u001b[30m \u001b[0m│\u001b[30m \u001b[0m\u001b[30mq Computer Corporation, together with          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mnd is the leading integrator of Microsoft     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mits consolidated subsidiaries, (collectively   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mExchange, with more than 400 major            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m\"Compaq\") designs, develops,                   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maccounts worldwide. Compaq also has been      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mmanufactures and markets information technology\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mdesignated as a preferred service provider by \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mequipment, software, services                  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mComputer Associates International, Inc.       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mand solutions, including industry-leading      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30menterprise storage and computing               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msolutions, fault-tolerant business-critical    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m    Compaq                                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msolutions, communication products,             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mprovides warranty support to its customers    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpersonal desktop and notebook computers, and   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthrough its own service organization, as well \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpersonal entertainment and Internet            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mas through full-service resellers and         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maccess devices that are sold in more than 200  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mindependent service companies. In addition to \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mcountries.                                     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mthe                                           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34msupport associated with product warranties,   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m         Compaq completed the acquisition of   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq offers a broad range of support        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mShopping.Com (\"SDC\") and Zip2 Corp.            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mservices designed to maximize system uptime   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m(\"Zip2\") and purchased certain assets and      \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand optimize system performance.              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mliabilities of InaCom Corp. (\"Inacom\")         \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30min February 1999, April 1999 and February 2000,\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m    Commercial Personal Computing (\"CPC\").    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrespectively. These acquisitions               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCPC designs, develops, manufactures and       \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mwere accounted for as purchases. In August     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmarkets a broad                               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m1999, Compaq sold an 81.5 percent              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mline of standards-based computing products    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mequity interest in AltaVista Company to CMGI,  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34memphasizing Internet access through           \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mInc. (\"CMGI\"). Accordingly,                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mworkstations, desktops, portables, monitors,  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCompaq's consolidated financial statements     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mInternet access devices and life-cycle        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30minclude the results of operations              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmanagement products. CPC                      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfrom the respective dates of acquisition       \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mmarkets products                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthrough divestiture or December 31,            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m2001, as applicable.                           \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34munder such brands as Deskpro™ desktops and    \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mArmada™ portables for commercial businesses,  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mPRINCIPLES OF CONSOLIDATION. The consolidated  \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mProsignia desktops and portables for small and\u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfinancial statements include the               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mgrowing businesses, Deskpro and               \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30maccounts of Compaq and its controlled          \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mProfessional workstations, Aero™ handhelds,   \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30msubsidiaries. All significant intercompany     \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mand Compaq iPAQ Internet devices. CPC         \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mtransactions and balances have been eliminated.\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34maccounted for approximately 32 percent of     \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30m                                               \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mCompaq's consolidated revenue in 1999.        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mCRITICAL ACCOUNTING POLICIES AND ESTIMATES. The\u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m                                              \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mpreparation of consolidated                    \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34m    As                                        \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mfinancial statements requires Compaq to make   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34man element of Compaq's strategy to re-define  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mestimates and judgments that affect            \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mInternet access with innovative products and  \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mthe reported amounts of assets, liabilities,   \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mservices, CPC introduced the iPAQ legacy-free \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30mrevenues and expenses, and related             \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mInternet device in                            \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m \u001b[0m\u001b[30md                                              \u001b[0m\u001b[30m \u001b[0m│\u001b[34m \u001b[0m\u001b[34mlate 1999. The uniquely designed iPAQ is      \u001b[0m\u001b[34m \u001b[0m│\n",
              "│\u001b[30m              \u001b[0m│\u001b[30m                                                 \u001b[0m│\u001b[34m \u001b[0m\u001b[34mtargeted f                                    \u001b[0m\u001b[34m \u001b[0m│\n",
              "└──────────────┴─────────────────────────────────────────────────┴────────────────────────────────────────────────┘\n"
            ]
          },
          "metadata": {},
          "output_type": "display_data"
        }
      ],
      "source": [
        "QUERY = \"Consumer products that compaq started selling in 1999 and beyond\"\n",
        "result = query_with_formatting(QUERY)\n",
        "console = Console()\n",
        "console.print(result)"
      ]
    }
  ],
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